Gold Retests 0.5 Fibo After Wave 5, Sets Up Next Bullish LegGoldOANDA:XAUUSDZenTrade_SetupThe 1H XAUUSD chart shows gold completing a beautifully structured 5-wave impulsive move, offering a clean example of Smart Money Concepts in action. Price built its foundation from the OB + Rejection zone near 4,282–4,320, then advanced through each wave with precision — wave (2) finding support in this same OB zone, wave (4) pulling back into a fresh FVG near 4,340–4,370, and wave (5) finally pushing to a high near 4,510, tapping the edge of the Resistance Zone above. Following that wave (5) peak, price has pulled back and is now retesting the 0.5 Fibonacci level near 4,473.970. This retracement zone carries extra weight because it overlaps with the BULL ZONE (spanning the 0.5 to 0.618 retracement), the same area that supported wave (2) earlier in the sequence — a classic case of a level being respected multiple times, which builds confidence in its validity. This kind of retest after completing a full impulsive structure is a textbook Smart Money Concepts pattern. The market often revisits key retracement zones to shake out weak hands and confirm demand before attempting the next leg higher. The projected path suggests a stepped bounce from this Fibo 0.5 retest, with price potentially dipping slightly further before buyers step back in to push toward fresh highs beyond the Resistance Zone near 4,590–4,600. From a risk management perspective, the key invalidation level is a decisive break below the BULL ZONE (under 4,440). Such a move would suggest the retracement has gone too deep and could open the door for a larger correction. For now, structure favors a bounce from this Fibo confluence, with traders watching for confirmation before the next push toward fresh highs. Do you think gold holds this 0.5 retest and pushes toward fresh highs, or will we see a deeper pullback first?