Gold (XAUUSD)->Trendline Break, Fakeout Retest, and ...GoldOANDA:XAUUSDmelikatrader94Hi! Gold on the 1H chart is currently trading around $4,088, and the structure here is quite clear if we follow what price has done step by step. Price first sold off into the weekly support area near $3,966, where buyers stepped in and defended the level strongly. That reaction created a base and eventually formed a double bottom structure, which became the starting point of the current recovery. After that, gold pushed higher and successfully broke the descending trendline, which had been controlling the downtrend. This break initially signaled a shift in momentum and a potential reversal. However, instead of continuing cleanly, price came back down and retested the breakout zone around $4,050 to $4,070. This move effectively turned the breakout into a fakeout liquidity sweep because the market briefly rejected the breakout before reclaiming it again. Now, the price is trying to stabilize above this reclaimed zone and build momentum for the next move. The next key area to watch is the neckline of the double bottom, which is still acting as an important structural level. If price holds above current support, the next logical target is the blue resistance area around $4,120 to $4,130, which is a clear intraday supply zone. If gold manages to break above this blue area with strength, then the next major target becomes the pink resistance zone around $4,210 to $4,225. This area has already reacted to price before and is likely to act as a stronger supply zone again. In summary, gold bounced from weekly support, broke the trendline, created a fakeout retest of the breakout zone, and is now attempting continuation. As long as price holds above $4,050 to $4,070, the structure remains bullish in the short term, with $4,120 and then $4,210 as the next key upside checkpoints. I’m excited to announce that I’m now a Brand Ambassador for AvaTrade!