XAUUSD | Gold Bullish Continuation Pattern at Major Support ZoneGoldOANDA:XAUUSDMrBeto5The Gold Price experienced a sharp downward trend initially, bottoming out near the 3,980 region before undergoing a major Structural Shift. Following a period of accumulation and a breakout above local resistance, price action flipped the market structure from bearish to bullish. Currently, price is experiencing a corrective pullback after hitting a local peak near 4,200, returning to retest a crucial demand zone. Key Confluences Parallel Channel: The corrective move down from the 4,200 highs is tightly contained within a Parallel Channel This serves as a bullish continuation structure, suggesting the selling pressure is corrective rather than impulsive. Channel Bottom Alignment: The lower boundary of the parallel channel perfectly aligns with the Support zone, creating a high probability confluence area for buyers. Support & Resistance Zones Key Support : 4,080 – 4,100. This is where buyers are heavily sitting, validated by the structural ceiling turning into a floor. Major Resistance : 4,220 – 4,240. This represents the overhead supply zone originating from the previous major breakdown point. Projected Path Price is expected to find significant liquidity and buying interest within the current 4,080 – 4,100 support zone. A successful defense of this level will likely trigger a breakout above the upper of the parallel channel. The projected path shows a brief consolidation at support before an impulsive drive toward the key Liquidity Target and resistance level at 4,230. Trade Sentiment Long BiasValid as long as the 4,080 structural support holds. ⚠️ Disclaimer: This is only for educational purposes I'm not you Financial advisor.