Based on the current charts of Gold (XAU/USD), the market is clearly in a downtrend, as seen on both the 15-minute and 5-minute timeframes. The price has broken key structures and formed multiple bearish “Change of Character” (CHoCH) and “Break of Structure” (BOS) patterns, which confirms a bearish sentiment. Price is currently sitting inside a demand zone around $3,300–$3,290, but there is no strong bullish reaction from this area. The candles inside this zone have low volume, which means buyers are weak or not interested — a sign of “no demand” from a Volume Spread Analysis (VSA) perspective.
On the other hand, there are strong supply zones above at levels like $3,335, $3,360, and $3,400, where price has previously been rejected with high volume — indicating strong selling pressure. Given all this, the best trade setup would be to wait for a clean break below the $3,300 demand zone with a strong bearish candle and increased volume. If that happens, you can look to sell on a pullback to the broken zone (now resistance), placing your stop-loss above $3,308. The first profit target can be around $3,290, and the next target around $3,276.
A buy trade is only an option if a strong bullish candle appears from the demand zone with high volume, and price breaks above $3,308. But right now, there is no sign of that, so the safer and higher-probability trade is to follow the trend and look for a short setup.
