H1 Pullback Into Discount Demand Before RecoGoldOANDA:XAUUSDMason_Drake Gold is trading around 4,133, extending its short-term decline after failing to hold the recovery above 4,160. The latest pressure is consistent with a firmer U.S. dollar and higher Treasury yields; spot Gold fell 0.4% on Monday as investors continued to weigh persistent inflation against the Fed’s next policy decision. Markets currently assign roughly an 83% probability of no October hike, while expectations for a December increase remain high. Reuters Macro risk remains two-sided. Middle East tensions continue to provide a safe-haven backdrop, but disruption around the Strait of Hormuz is also keeping energy-price and inflation risks elevated. A tanker incident in the strait added to regional uncertainty, while Brent remained above $108 despite Monday’s pullback. Reuters Technical View The H1 chart is moving into a deeper corrective phase. Price has lost momentum beneath the recent CHoCH structure and is now testing the 4,129–4,140 H1 Support / POI. The rising trendline is also being challenged, so this area is no longer a comfortable location to chase longs. The chart projection favors another liquidity move lower first. The stronger technical location sits at 4,098–4,108 Major Demand / Discount POI. This zone marks the origin of the latest impulsive recovery and offers a cleaner location for buyers to rebuild structure. Above price, the major upside destination remains 4,190–4,200 Major Bearish OB / Supply. The zone also converges with the upper trendline, creating the key resistance for any recovery. Key Zones 4,217.665 — External Liquidity / Weak High 4,190–4,200 — Major Bearish OB / Supply 4,129–4,140 — H1 Support / POI 4,098–4,108 — Major Demand / Discount POI 4,076–4,086 — H1 Demand / Origin of Recovery 4,073.895 — Major Structural Low Trading Plan Buy Priority — after a deeper pullback. The main scenario is to allow price to move through the current 4,129–4,140 H1 Support / POI and test the stronger 4,098–4,108 Major Demand / Discount POI. Condition: buyers must defend the discount zone and produce a clear H1 bullish reaction or structural reclaim. If confirmation develops, I will favor a recovery back through 4,129–4,140, followed by 4,150–4,160. A successful reclaim of that structure would reopen the broader upside path toward 4,190–4,200 Major Bearish OB / Supply. The idea is simple: deeper discount first, confirmation second, expansion toward supply third. Risk / Invalidation A decisive H1 breakdown through 4,098–4,108 would weaken the primary recovery scenario and expose the deeper 4,076–4,086 H1 Demand. The 4,073.895 structural low is the broader invalidation reference. Until buyers confirm from demand, there is no reason to anticipate the reversal early. Mason View Gold is currently pressing into support, but the stronger H1 opportunity sits lower. 4,129–4,140 is the immediate decision area, while 4,098–4,108 is the real discount POI where I want to judge buyer strength. If demand holds and structure rebuilds, the market has room to rotate back toward 4,190–4,200. Until that confirmation appears, patience is the better position.