Mobarok Hossain
April 25, 2024
Overview Spot Gold (XAU/USD) has surged into the 4,192.55 – 4,224.71 H4 Sell Zone after executing a clean Market Structure Shift (MSS) above lower consolidation levels. While higher-timeframe order flow shows renewed bullish momentum, immediate price action is testing significant overhead supply, suggesting a temporary corrective pullback before a potential breakout above 4,224.71.
H4 Sell Zone Resistance: The area spanning 4,192.55 to 4,224.71 serves as a major H4 order block where institutional supply is concentrated.
Market Structure Shift (MSS): The recent breakout above minor structure established a strong bullish footprint, converting previous consolidation highs into demand.
Primary Support (Flipped MSS Level): The immediate structural support level for a corrective pullback aligns around 4,140.00.
Level of Last Support: The major structural baseline sits at 4,105.33, representing the key line in the sand for maintaining the current bullish structure.
Retest Area: Corrective decline into the 4,140.00 flipped support region.
Confirmation: Bullish Market Structure Shift (MSS) or rejection candlestick pattern on 15M/1H timeframes.
Upside Target: Breakout above 4,224.71.
Retest Area: Deeper retracement into the Level of Last Support at 4,105.33.
Confirmation: Double-bottom or accumulation pattern holding above 4,105.33.
Upside Target: 4,192.55 (TP1) and 4,224.71+ (TP2).
Traders should closely monitor price reactions within the 4,192.55 – 4,224.71 sell zone. Allowing the market to complete its corrective pullback into 4,140.00 or 4,105.33 provides a favorable risk-to-reward entry for the next expansion leg higher.
Disclaimer: This analysis is provided strictly for educational purposes and does not constitute financial advice.
