XAUUSD D1GoldOANDA:XAUUSDWinlouhXAUUSD D1: Channel Breakout Held, Wave (B) Pullback Before (C) Bias: Bullish. Price broke out of the descending channel and reclaimed the CHOCH. Friday’s candle was a small bearish pullback (-0.43%) that failed to take back the breakout. The expected path is a wave (B) dip into the FVG + OB zone, then wave (C) toward the -0.272. Market structure Five-wave decline complete: Wave (5) ended at ~3,870, on the lower channel line. It matches the H4 count from Nov 5. Breakout: Price rallied out of the channel and above the CHOCH (~4,082). Wave (A) peaked near 4,147 on Nov 5, which left a long upper wick. Current price: About 4,070. Friday closed at 4,070.6 (-17.7), with a range of 4,030–4,107. It’s sitting right on the CHOCH and the upper channel line, which are being retested from above. Fib levels (of the 3,870 to 4,147 rally): 0.382: ~4,041 0.5: ~4,008 0.618: ~3,976 0.786: ~3,929 Demand below: The FVG + OB zone at 3,975–4,010, between the 0.5 and 0.618. It’s the origin of the breakout leg and holds the broken channel line. Targets above: ~4,147: the wave (A) high ~4,240: the -0.272 extension, where wave (C) ends ~4,512: the HIGH Scenario (matches your projected path) A small bounce to ~4,090, then a drop to ~4,045 that holds above the 0.382. A weak bounce to ~4,070, followed by the main drop into the FVG + OB at 3,975–4,010 to complete wave (B). A strong D1 rejection from the zone, with a higher low above the 0.786 (~3,929). Wave (C) breaks 4,147 and runs to the -0.272 at ~4,240. Invalidation: A D1 close below the 0.786 at ~3,929. A break of the LOW at 3,870 would cancel the whole count. Risks Wave (B) can overshoot the zone. The 0.618 at ~3,976 and the round 4,000 level are the key areas to watch. The wick above 4,100 on Nov 5 shows sellers are still active near the D1 Liquidity at 4,085–4,095. A D1 close back under the CHOCH and the channel line would make the breakout look weaker. Wave (C) targets ~4,240, near the 0.5 of the bigger decline (~4,200–4,340). Take profit in stages there. The market opens Monday after the weekend, so watch for a gap. US news is marked for the coming week and could add volatility.