XAUUSD H2Gold vs US DollarPEPPERSTONE:XAUUSDWinlouhCurrent structure H2 is still bullish overall. Price is trading inside the rising channel and holding above the channel support. Current price around 4827.8 is sitting between intraday support and the nearby supply at 4853.5. What stands out Strong impulsive move up from the 11–14 Apr base. Price has now reached a prior reaction/supply area around 4840–4855. The chart marks a ChoCH around the current region, which means this area is important for confirming whether buyers still control the short-term structure. The projected path suggests: a shallow pullback, then continuation higher, with upside targets near 4933.8 and possibly 5010.9. Key levels Immediate resistance: 4853.54 Higher target / external liquidity: 4933.82 Major liquidity sell target: 5010.92 Immediate support: 4817.19 Next support: 4801.59 Mid support / retrace zone: 4757.76 Liquidity buy zone: 4741.96 – 4730.27 Deeper support: around 4690 area near the 0.786 marking Read of the setup As long as price holds above 4817 / 4801, the H2 trend remains constructive. A clean break and H2 close above 4853.5 would likely open the move toward 4933.8. If price rejects from 4853.5, then the healthier bullish scenario is a retracement into 4758–4730 before continuation up. That blue boxed zone is the best value area for buyers on this chart. Scenarios Bullish continuation Hold above 4817–4801 Break 4853.5 Target 4933.8 Extension toward 5010.9 Bullish pullback then rally Reject near current resistance Retrace into 4758–4742 Find demand there Then rotate back up toward 4853, then 4933 Bearish invalidation If price loses 4730 and breaks the channel decisively, short-term bullish structure weakens. Then the current move is likely just a corrective bounce, not continuation. Best takeaway Trend: bullish on H2 Problem area: price is already near resistance Best location: buy retracement, not chase highs Confirmation level: 4853.54 Invalidation zone: below 4730 Practical view Aggressive traders watch for breakout above 4853.5 Safer traders wait for a pullback into 4758–4742 and bullish reaction there The H2 chart supports your D1 idea well: short-term bullish continuation is possible, but the cleaner entry is on a dip into liquidity rather than at current price.