Is Gold Trapping Buyers Again? XAUUSD (Aug 4)GoldOANDA:XAUUSDAdrian_NovaTraderMarket Overview Gold continues to trade within a broader bearish H2 structure, with the descending trendline remaining the dominant technical resistance. Although price has rebounded from the recent Sell-Side Liquidity sweep around 4,020–4,030, the recovery appears corrective rather than impulsive. Each rally has produced a lower high while failing to reclaim the descending trendline, suggesting buyers have not yet shifted the higher-timeframe structure. Price is now approaching a key confluence between the Internal Buy-Side Liquidity, the descending trendline, and the H2 supply zone around 4,110–4,120. This area could become the next decision point where sellers attempt to defend the prevailing trend. From my perspective, the current recovery may simply be building liquidity before another bearish expansion, provided the H2 resistance remains intact. 📍 Current Structure H2 market structure remains bearish. Descending trendline continues to cap upside momentum. Recent rebound followed a sweep of Sell-Side Liquidity. Internal Buy-Side Liquidity is located around 4,110–4,120. Minor liquidity rests near 4,075–4,080. Key downside liquidity remains around 4,020–4,030, followed by the 4,000 SSL. 📌 Trading Plan Bias: Bearish while price remains below the H2 resistance confluence. Bullish Scenario Price extends into 4,075–4,120 and attempts to reclaim resistance. A sustained close above the H2 supply zone would suggest buyers are regaining control and reduce the probability of immediate bearish continuation. Bearish Scenario Price sweeps nearby liquidity and reacts from the H2 resistance confluence. A lower-timeframe bearish market structure shift from this area could open the path toward 4,020–4,030, with 4,000 becoming the next liquidity objective. 🎯 Key Levels Resistance 4,075–4,080 – Liquidity 4,110–4,120 – Internal BSL + Descending Trendline + H2 Supply Support 4,020–4,030 – Liquidity 4,000 – Sell-Side Liquidity (SSL) ❌ Invalidation The bearish outlook becomes less likely if price successfully reclaims and closes above the 4,110–4,120 H2 resistance zone, indicating that buyers are beginning to shift the higher-timeframe structure. 💡 Key Insight The current rebound appears corrective unless buyers can reclaim the H2 resistance confluence. Until that happens, the broader structure continues to favor monitoring for bearish continuation after liquidity is collected, rather than assuming a new bullish trend has begun.