Bullish ScenarioGold (XAUUSD)CAPITALCOM:GOLDmohamadx2xexf1) Market Structure (SMC perspective) The broader structure is bearish → transitioning to short-term bullish correction. You had a clear sell-off (lower highs, lower lows), followed by: A strong impulsive move up (likely a BOS / MSS shift). Now price is moving inside an ascending channel (blue lines). 👉 Interpretation: This is a pullback rally inside a larger bearish context, not a confirmed trend reversal yet. 2) Key Zones (Your yellow areas) You marked them correctly — these are high-liquidity / volume zones: Upper Zone (~4790–4800) Strong supply / distribution area Previous rejection zone Likely target for liquidity grab Mid Zone (~4700–4710) Current reaction area Acting as decision zone (flip zone) Lower Zone (~4670–4680) Strong demand / accumulation Origin of the impulsive move up 3) Current Price Behavior Price rejected from the top of the channel Now sitting inside the mid-volume zone (~4705) Losing bullish momentum (smaller candles, rejection wicks) 👉 This suggests: Either continuation down to rebalance Or fake breakdown → continuation up 4) Liquidity Analysis Buy-side liquidity sits above ~4750 → 4800 Sell-side liquidity sits below ~4680 Current position = in the middle → not ideal entry zone 5) Scenarios 🔴 Bearish Scenario (Higher Probability Right Now) Conditions: Break below 4700 zone Exit channel to the downside Targets: 4680 (first) 4670 (liquidity sweep) Possibly lower if momentum continues Bias: This aligns with overall bearish structure 🟢 Bullish Scenario Conditions: Hold above 4700 Break and close above 4730–4740 Stay inside channel Targets: 4760 4790–4800 (major liquidity + supply) ⚠️ But: this would still likely be a liquidity grab before another drop 6) Channel Insight Price is currently losing strength inside the channel If it breaks the lower trendline, expect acceleration down 👉 Channels often act as corrective structures, not trend confirmations. 7) Best Trading Approach Avoid: Entries in the middle (where price is now) Look for: Sell Setup (Preferred) Rejection from 4720–4740 OR Break + retest below 4700 Buy Setup (Safer but secondary) Sweep of 4670 zone + strong bullish reaction 8) Clean Trade Ideas Sell Idea: Entry: 4720–4740 (rejection) OR breakdown retest 4700 SL: above 4755 TP: 4680 → 4665 Buy Idea: Entry: 4670 sweep + confirmation SL: below 4655 TP: 4720 → 4760