"Gold's Repeat Pattern: Two Impulses, Two Pullbacks – What's NexGoldCAPITALCOM:GOLDjasromana61This **4-hour Gold (XAU/USD)** chart shows a classic **price action structure** with two major impulsive waves followed by corrective pullbacks. Here's a breakdown using **price action principles**: 🔹 **1. Impulsive Rally #1 (Left Box)** * **Price surged** by approx. **119.55 points (+3.68%)**, forming strong bullish candles with little to no wick on top — a sign of **buyer dominance**. * The move was sharp, indicating **strong momentum** and **break of previous lower highs**, suggesting a possible **market structure shift** to bullish. 🔻 **2. Correction #1** * The rally was followed by a **retracement of -84.51 points (-2.51%)**. * Price made **lower highs and lower lows** within this box — indicating a **corrective pullback**, not a reversal. * It respected previous support zones, which shows **buyers still in control**. ### 🔹 **3. Impulsive Rally #2 (Right Box)** * Price then made a **new higher high**, rising **127.94 points (+3.86%)**. * Strong bullish candles again appeared with follow-through — confirming **bullish order flow**. * The **break of the previous swing high** confirms a **bullish structure continuation**. ### 🔻 **4. Correction #2 (Ongoing)** * Current price is in a **retracement phase** of around **-84.51 points (-2.46%)** — nearly identical in size to the first correction. * The correction is forming **lower highs and lower lows**, with potential for **bullish reaction near the previous support or demand zone**. * The **market is testing previous structure** (support level near \$3360–\$3370) — a key area for **bullish reversal confirmation** (watch for pin bars or bullish engulfing patterns). 📌 **Price Action Summary * **Structure**: Higher highs, higher lows — confirms **uptrend**. * **Corrections**: Controlled and proportional — shows **healthy trend**. * **Current Zone**: Price is testing **potential support**, watch for **bullish reversal signals** to catch next wave. * **Bias**: Still **bullish**, unless structure breaks below recent swing low (\~\$3340). --- ✅ Traders’ Tip**: If bullish candles form at current support, it may present a **buy opportunity** with targets toward recent highs. Use proper risk management and watch for confirmation!