Are Buyers Getting Trapped Above 4,700? XAUUSD 15/05GoldOANDA:XAUUSDAdrian_NovaTraderXAUUSD is currently showing strong bearish continuation after failing to sustain acceptance above the 4,700 SELL OB resistance zone, confirming that sellers are beginning to regain short-term control of the market. Following several sessions of sideways consolidation below resistance, price failed to generate bullish continuation and instead broke aggressively below the recent intraday structure around 4,640, creating a bearish BOS and triggering a sharp liquidity-driven selloff into the 4,560 SMALL OB support zone. The 4,560 SMALL OB is currently the most important reaction zone on the chart. This area represents the final short-term bullish defense before price potentially rotates deeper into the higher-timeframe OB + SUPPORT region near 4,510–4,520. While a temporary bounce from current demand remains possible, overall momentum continues favoring sellers as bearish candles close aggressively with very little sign of immediate bullish absorption. Rather than showing a clean reversal, the current structure suggests that price may only deliver a short-term retracement before continuing lower toward deeper liquidity resting beneath the current lows. Price could still revisit the 4,680–4,700 supply region to rebalance inefficiencies and collect liquidity, but unless buyers establish strong acceptance above that resistance area, the broader intraday pressure remains bearish. Currently • Price has broken below recent intraday support structure • Bearish momentum is increasing after rejection from SELL OB • 4,560 SMALL OB remains the key reaction zone • Market structure remains bearish below 4,700 resistance • Liquidity is building below current lows toward deeper support Trading Plan Bias: Short-term Bearish Key Zones: • 4,700 → Main SELL OB resistance • 4,640 → Previous bearish BOS structure • 4,560 → Main SMALL OB reaction zone • 4,510–4,520 → Higher-timeframe OB + SUPPORT demand Execution Idea: As long as price remains below the 4,680–4,700 resistance region, the market may continue delivering bearish continuation toward lower liquidity zones. Watch for weak bullish retracements, rejection candles, or failed breakout attempts before considering continuation setups targeting deeper demand. Targets → TP1: 4,540 → TP2: 4,520 → TP3: 4,510 Invalidation A strong bullish reclaim above the 4,700 SELL OB resistance, followed by sustained acceptance above the descending supply structure, would invalidate the bearish intraday scenario and increase the probability of continuation toward higher liquidity. Key Insight The market is transitioning from consolidation into bearish expansion after failing to sustain higher prices above premium resistance. Unless buyers quickly reclaim control above 4,700, gold may continue rotating lower as smart money targets liquidity resting beneath the current structure.