XAUUSD Market Structure Update
Price is currently trading around the 4,830 level, continuing its bullish movement within a well-defined ascending channel after a strong reversal from the lows. This suggests the market is in a sustained bullish structure, approaching a key supply area.
ā¤ Market Structure
ā¢ Clear Higher Highs (HH) & Higher Lows (HL) ā confirms bullish market structure.
ā¢ Price is respecting a clean ascending channel, indicating controlled institutional buying.
ā¢ Multiple rejections from supply (~4,850 ā 4,880) show liquidity resting above.
ā¢ Current move is forming another HL ā pushing toward supply again.
ā¢ Market likely building pressure for a Buy Side Liquidity (BSL) breakout.
ā¤ Key Levels
ā¢ Supply Zone: 4,850 ā 4,880
ā¢ Current Price: ~4,830
ā¢ Channel Support (HL zone): 4,700 ā 4,750
ā¢ Demand Zone: 4,600 ā 4,650
ā¢ Buy Side Liquidity (BSL): above 4,880
If price holds above the 4,750 ā 4,700 zone and continues forming higher lows, it would confirm bullish continuation and increase the probability of a breakout above 4,880, targeting the 5,000 ā 5,030 liquidity zone.
However, if price fails at supply again and breaks below the channel structure, it would signal a potential distribution and shift toward a deeper pullback.