XAUUSD Long: Ascending Channel Targets Retest of $4,230 SupplyGold / U.S. DollarFOREXCOM:XAUUSDheniitradingHello traders! XAUUSD has recently shown a clear bullish recovery structure after forming a strong base within the Demand Zone around $4,120–$4,130, where price previously reacted multiple times. This area also aligns with the lower boundary of the Ascending Channel, confirming it as a key decision point for buyers. Earlier, Gold formed a Double Top pattern near the $4,230–$4,240 zone, which acted as a pivotal Supply Area and triggered a sharp correction. Following that, the market produced two notable fake breakouts below support — liquidity sweeps that failed to establish a bearish continuation. Each failed breakdown was followed by strong buying pressure, signaling active demand. Currently, after touching the Fibonacci Pivot Point, price reversed and re-entered the Ascending Channel, where bulls regained control. The current movement shows Gold pulling back from the Supply Line near $4,200–$4,230, suggesting that sellers are defending this zone, but the overall structure still favors buyers as long as the price remains above the channel support. At the moment, XAUUSD is approaching the confluence area between the Supply Zone ($4,200–$4,230) and the Supply Line, which represents a major reaction level. A clean breakout above this region would confirm bullish continuation, while a rejection could trigger another correction back toward the Demand Zone. My scenario as XAUUSD holds above the $4,120–$4,130 Demand Zone, the bullish structure remains intact. The next upside objective sits around $4,200–$4,230, where both the Supply Line and key resistance meet. A successful breakout and close above $4,230 would confirm bullish continuation, opening the door for a move toward $4,260–$4,280 in the short term. However, if price rejects the supply area, a pullback toward $4,150–$4,130 is possible — an area where buyers may re-enter. A break below $4,120 would invalidate the bullish scenario and signal deeper correction toward $4,080–$4,060. For now, the structure favors buying pullbacks within the ascending channel, as long as price remains above key demand. Manage your risk!