XAU/USD: SMC Setup – Waiting at the Discount ZoneGoldOANDA:XAUUSDVertexCapital_SMCGold is showing signs of a pullback after executing a liquidity grab at the previous highs. Here’s a technical outlook based on Smart Money Concepts (SMC): 📍 1. Market Structure & Liquidity Overview Market Structure: Following a bullish BOS (Break of Structure), buyers failed to sustain momentum. The presence of long upper wicks around the 4.83x area suggests that selling pressure is stepping in. Liquidity: The 4.831 – 4.814 zone is acting as a potential trap for early buyers. Price is now gravitating back toward equilibrium (EQ), indicating a rebalancing phase. 📉 2. Trading Plan At the moment, price is trading in the mid-range (No Man’s Land), which carries higher risk. The focus should be on value areas, particularly the Discount Zone: Point of Interest (POI): Fair Value Gap (FVG) around 4.78x and the Discount Zone near 4.760 – 4.740. Primary Scenario: Wait for price to fill the FVG and tap into the Discount Zone. Look for a CHoCH (Change of Character) as confirmation to enter BUY positions targeting the 4.81x region. Alternative Scenario: If price shows strong bullish continuation from the current level, wait for a confirmed breakout above 4.831 before considering continuation trades. 💡 Fundamental Perspective: The market is currently influenced by US–Iran geopolitical tensions, creating uncertainty and volatility in the USD. Meanwhile, expectations of potential Fed rate cuts continue to provide longer-term support for gold. ⚠️ Note: Avoid FOMO at equilibrium levels. Patience is key—wait for price to reach the Discount Zone to achieve a more favorable risk-to-reward (R:R) setup. What’s your view on this gold correction? Drop your thoughts in the comments below! 👇 #XAUUSD #Gold #SMC #SmartMoneyConcepts #TradingView #TechnicalAnalysis #Forex #Trading