XAUUSD 4349 squeeze — 4600 still the draw GoldOANDA:XAUUSDEthan_TraderProXAUUSD 4349 squeeze — 4600 still the draw This pullback is ugly, but not random. Gold already did the big move. It swept lower liquidity, built from the +OB area, then ripped straight into the upper buy-side pool near 4,600. After that? Rejection. Normal. Price was stretched. Now we’re sitting around 4,349 inside this falling channel. Looks weak at first glance. But I don’t read it as full bearish control yet. This looks more like a corrective channel after a strong bullish displacement. Sellers are pushing price down, but not breaking the whole higher-timeframe structure clean. They’re just dragging price back into discount. Main bias is bullish recovery while gold holds above the lower channel and the 4,240 - 4,300 demand area. The zone I care about is below current price. If gold sweeps into 4,300 - 4,240 and starts rejecting, that is where buyers can reload. Not in the middle. Not while price is chopping. Confirmation is simple. I want to see gold break out of this small bearish channel and reclaim above 4,400. If that happens, 4,500 comes next. Then 4,600 becomes the real liquidity draw again. Trading scenario: Buy idea only if gold sweeps 4,300 - 4,240 and reclaims fast, or breaks above 4,400 with clean candles. Entry zone: 4,300 - 4,400 after confirmation Deeper buy zone: 4,240 - 4,300 if price sweeps lower and rejects Stop loss: below 4,220 TP1: 4,400 TP2: 4,500 TP3: 4,600 No reclaim, no chase. Simple. If gold breaks hard below 4,220, this bullish recovery idea gets cooked. Then the correction can turn into a deeper selloff. For now, I’m reading this as bearish channel pullback, discount reload, 4,600 liquidity still waiting. You think gold sweeps 4,300 first, or breaks the channel right away?