XAU/USD — Intraday Technical Analysis (15MGoldOANDA:XAUUSDTRADE_WITH_CHARLIEMarket Structure Price moved inside a descending channel, confirming strong short-term bearish momentum. A rejection at the channel resistance (red arrow) triggered the sharp sell-off. The market has now reached a key demand/support zone around 4980–4985, where buyers are reacting. Current Price Behavior Price is accumulating at the demand zone after the impulsive drop. Multiple wicks and slowing momentum suggest possible liquidity grab and base formation. Bullish Scenario If the demand zone holds: Entry Zone: 4980 – 4985 Target: 5090 – 5095 Stop Loss: 4940 – 4942 Expected move: Liquidity sweep → consolidation → impulsive bullish retracement toward 5090 resistance. Bearish Risk If 4980 support breaks strongly: Price could continue the bearish channel expansion Next downside liquidity could appear around 4950 → 4920. Smart Money Perspective Current zone likely acts as discount area after liquidity sweep. Institutions may accumulate longs here before pushing price back to imbalance near 5090. Conclusion: Market is still bearish overall, but short-term bullish retracement toward 5090 is possible from the demand zone.