This daily chart of Gold (XAUUSD) reflects a strong and aggressive bullish trend, driven by multiple breakouts in market structure (BOS) and efficient liquidity absorption during shallow pullbacks, ultimately leading to new all-time highs (ATH). The recent impulsive leg, characterized by large bullish candles, clearly shows buyer dominance; however, the sharp bearish reaction from the top signals an initial loss of short-term momentum and the potential start of a corrective or consolidation phase—something commonly seen after vertical, emotionally driven rallies.
From a technical perspective, the highlighted daily and weekly order blocks play a critical role in determining the next directional move. The main demand zone, aligned with the weekly order block (OB-W) and unfilled fair value gaps (FVGs) below price, represents key areas where a healthy pullback could find support. As long as price holds above the previously broken structures, the broader market bias remains bullish; however, from a risk-management standpoint, chasing price at the highs is unfavorable, and patience is required for confirmation within demand zones.
Overall, gold appears to be in a phase of correction within a larger uptrend, offering potential opportunities for more strategic mid-term long positions. The market’s reaction to the marked zones will be decisive—either paving the way for continuation toward new highs or allowing a deeper retracement to rebalance liquidity before the next impulsive move.
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