XAUUSD — Demand Retest Before BreakoutGoldOANDA:XAUUSDGold_Prime_Smc Market Context Gold is trading around $4,394 after recovering strongly from the recent head formation near $4,310. Price is now testing the $4,395–$4,400 neckline area, while the right shoulder remains supported above the marked demand zone. The macro backdrop is moderately supportive. Gold started the week firmer as the US dollar softened and weaker US data reduced expectations for a September Fed rate hike. Markets are now waiting for the July FOMC minutes on August 19, which could create fresh volatility around the current resistance. SMC View The recovery from the head low has rebuilt bullish short-term order flow, while the right-shoulder structure shows buyers continuing to protect higher lows. The inverse head-and-shoulders pattern adds confluence, but price still needs acceptance above the neckline before stronger continuation is confirmed. The $4,365–$4,378 demand area is the main decision zone. A controlled retracement into this region would offer cleaner positioning than chasing directly beneath resistance. Main Trading Scenario Condition: Gold retraces into the $4,365–$4,378 demand zone and forms a clear bullish rejection. A lower-timeframe bullish MSS or CHOCH is required before entry, while a reclaim of $4,395–$4,400 would strengthen continuation. Entry: $4,365–$4,378 after bullish confirmation SL: Below $4,360 and the right-shoulder low TP1: $4,395–$4,400 TP2: $4,440–$4,450 Key Zones to Watch Current price: $4,394.195 Main buy zone: $4,365–$4,378 Neckline resistance: $4,395–$4,400 Main target: $4,440–$4,450 Invalidation: Acceptance below $4,360 Confirmation: Bullish rejection with MSS or CHOCH Prime Gold View The buy bias remains valid while Gold protects the right-shoulder demand zone. The preferred plan is to wait for a confirmed pullback rather than chase price directly into the neckline. If buyers defend $4,365–$4,378 and reclaim $4,400, Gold could expand toward the $4,440–$4,450 target zone. Acceptance below $4,360 would weaken the bullish setup. No confirmation, no trade.