FX.co ★ Jackroay | XAU/USD, GOLD

XAUUSDm H1 — Smart Money Concept Technical Analysis 1. Overall Market Structure The XAUUSDm H1 chart is showing a strong bullish market structure after a clear transition from the earlier corrective decline into aggressive upside expansion. At the beginning of the visible chart, price moves upward from the 4355 area, creates a temporary accumulation structure around 4380–4410, and then starts losing momentum before the bearish move toward the 19 Aug low near 4355.283. The important development comes after this decline, where price performs a Liquidity Sweep around the lower area and immediately begins to reclaim structure. From that point, the market produces a powerful impulsive move toward 4494, 4522, 4550, 4577 and finally the 4605–4651 region. On my chart, this sequence is important because the market is no longer behaving like the previous range. Instead, it is printing a series of higher highs and higher lows, which confirms that buyers have gained control on the H1 timeframe. I therefore read the current structure as bullish unless price produces a meaningful bearish MSS and starts closing below the important demand areas shown on the chart. 2. Liquidity Sweep The most important early event on the chart is the Liquidity Sweep around the 19 Aug session. Before the major bullish expansion, price declines from the 4410–4430 region and pushes toward the previous low around 4355.283. This move appears to clear liquidity resting beneath the earlier lows before price quickly stabilizes. In Smart Money Concept terminology, this is significant because the market first takes available sell-side liquidity and then reverses aggressively. The reaction from this area is not a small bounce; it develops into a strong displacement that eventually breaks several internal highs. That makes the sweep an important structural event rather than an ordinary intraday fluctuation. The chart therefore suggests that the downside move into the 4355 area provided the liquidity event needed before the bullish repricing began. As long as this swept low remains protected, the broader H1 bullish structure remains technically stronger. 3. SSL — Sell Side Liquidity The SSL, or Sell Side Liquidity, is positioned around the lower part of the chart, particularly near the 4355.283 low. This area became important because price moved below the surrounding structure before reversing upward. Liquidity commonly builds around obvious lows because traders place protective stops below previous swing points, while breakout sellers can also enter when those lows are breached. On this chart, the move toward the lower liquidity area was followed by a rapid bullish recovery. That reaction gives the 4355 region additional importance as a structural invalidation area. If price continues holding above this low, the previous SSL sweep can be interpreted as completed liquidity collection. A future return toward this region would therefore deserve close attention because it would represent a much deeper retracement than the current shallow pullbacks. For the present H1 structure, however, the chart is showing that SSL was swept first and price subsequently shifted toward the upside. 4. MSS — Market Structure Shift After the liquidity event, the chart clearly develops a MSS — Market Structure Shift. The important characteristic is the change from the previous bearish/corrective sequence into an aggressive bullish sequence. Price begins forming higher lows and then breaks above previous internal swing levels. The MSS is particularly visible around the 4466–4494 region, where the market stops respecting the previous downward pressure and begins expanding upward. This is important because the liquidity sweep by itself does not guarantee a sustained reversal; the subsequent structural shift provides confirmation that market behavior has changed. From my chart, the MSS acts as the bridge between the liquidity event near the low and the later BOS sequence. Therefore, I would treat the MSS area as a historical confirmation zone for the bullish scenario. If price remains above the major demand and FVG areas established after this shift, the bullish interpretation remains valid. 5. BOS — Break of Structure Following the MSS, the chart contains multiple BOS — Break of Structure events. The first major bullish BOS appears as price aggressively leaves the lower region and pushes through previous resistance around 4410 and then continues toward 4494. Another important BOS develops around the 4522–4550 region, followed by additional structural expansion toward 4577 and 4605. These repeated breaks are characteristic of a market in which buyers are continuously taking control of previous swing highs. Instead of producing one isolated breakout, XAUUSDm is showing a sequence of structural confirmations. This is one of the strongest bullish features visible on the chart. However, repeated BOS events also mean that price is becoming extended from its earlier demand areas. Therefore, I would not interpret every new high as an automatic entry opportunity. The better structural approach is to observe whether price retraces into an identified FVG or Order Block and then resumes the bullish structure.

6. Bullish Order Block The chart marks a Bullish Order Block around the 4410–4430 area. This zone is particularly important because it is located close to the origin of the strong bullish displacement that carried price substantially higher. An Order Block can act as an area where price may return before continuing its primary direction. In this case, the bullish Order Block sits above the liquidity-swept low and below the major bullish expansion. This positioning makes it an important demand reference on the H1 chart. If price eventually makes a deeper correction, the reaction inside this zone could provide information about whether buyers are still defending the bullish structure. A strong bullish response from the zone would support continuation, while a decisive H1 breakdown through it would weaken the current structure. I therefore consider this Order Block one of the key historical demand areas visible on the chart, although current price is trading considerably higher. 7. Fair Value Gap — Lower FVG The chart identifies a FVG — Fair Value Gap around the 4380–4410 region following the powerful bullish displacement. This gap represents an area where price moved rapidly enough that the chart left an imbalance between candles. In the context of this particular structure, the FVG is important because it sits close to the bullish Order Block and the post-MSS expansion. The combination of FVG + Order Block makes this area more significant than either concept viewed separately. If price retraces deeply into this zone, I would watch the H1 candle reaction carefully rather than assuming the gap must automatically hold. A clean rejection would suggest that the market is using the imbalance as a demand area. Conversely, sustained closes through the FVG would indicate that bullish momentum is weakening. The current chart, however, shows that price has moved far above this imbalance after respecting the broader bullish structure. 8. Higher FVG Around 4494–4522 A second FVG is visible around the 4494–4522 region. This imbalance was created during the strong bullish expansion and later became part of the market's continuation structure. The importance of this FVG comes from its location directly beneath subsequent BOS levels. Price moved upward, established structure around 4522, and then continued toward 4550 and higher. This tells me that the market has been leaving bullish inefficiencies during each major displacement. These gaps are useful reference points because they identify areas where price may potentially rebalance if momentum temporarily slows. The current distance between price around 4651 and this FVG indicates that the market has extended considerably away from this support area. Consequently, if a correction begins, the 4494–4522 FVG could become an important deeper retracement reference. Until such a correction develops, it remains a historical bullish imbalance rather than an immediate price level. 9. Order Block Near 4522–4550 Another important structure on the chart is the Order Block around the 4522–4550 area. This zone developed before price continued its strong advance toward the upper highs. The market spent time consolidating around this region before producing another bullish expansion, which makes it an important continuation zone. In Smart Money terms, the Order Block can be viewed as an area where buyers previously demonstrated sufficient strength to push price into new highs. If price revisits it, the reaction will be important for determining whether the previous bullish order flow is still active. A shallow retracement that holds above the zone would demonstrate strong demand, while a deeper breakdown could expose the lower FVG around 4494–4522. The chart therefore gives us a clear hierarchy of support: the nearest bullish zones are higher, while the deeper FVG and Order Block provide broader structural protection. 10. Current High and Buy Side Liquidity At the top of the chart, price is trading around 4651.155, while the visible extreme is near 4661.358. This area represents an important High and potential Buy Side Liquidity (BSL) region. Since the market has already produced an extended bullish move, liquidity can accumulate above obvious highs. The 4661 area is therefore an important reference point for the current structure. A clean breakout and sustained H1 acceptance above this high would indicate that buyers are successfully expanding into new territory. On the other hand, a sharp rejection from this region followed by a bearish MSS could indicate that liquidity has been taken from above the high. The chart currently does not show a confirmed bearish reversal, so I would not label the high as a confirmed reversal point. Instead, I would treat it as a major liquidity and resistance area that must be monitored for the next structural development. 11. Resistance and Premium Area The upper part of the chart is marked as Resistance, and this area is now particularly important because price has reached the extreme end of the visible bullish expansion. From the 4355 low to the 4651 current area, XAUUSDm has traveled a very large distance without producing a comparable H1 bearish structure shift. This demonstrates strong momentum, but it also means the market is approaching an area where chasing price becomes less attractive from a structural perspective. The resistance near 4651–4661 should therefore be viewed as a decision zone. If buyers break and hold above it, the bullish structure can continue toward fresh highs. If price repeatedly rejects the area and then breaks an internal higher low, the first warning of a correction would appear. For my chart-based analysis, resistance does not automatically mean “sell”; it means the market has reached an area where liquidity and reaction become increasingly important. 12. Bullish Structure and Momentum The Bullish Structure is the dominant feature of the entire H1 chart. After the low near 4355, price produces a strong sequence of higher highs and higher lows, with several impulsive candles showing clear buying pressure. The structure around 4494, 4522, 4550, 4577, 4605 and 4651 demonstrates progressive upward expansion. Importantly, the bullish movement is not based on a single candle; it develops through multiple BOS events and continuation formations. This makes the bullish structure more convincing from the chart's internal perspective. Nevertheless, strong trends can experience sharp retracements without immediately becoming bearish. Therefore, I would distinguish between a normal pullback and a genuine structural reversal. A retracement into an FVG or Order Block followed by bullish rejection would preserve the current structure, while a bearish MSS followed by a breakdown of major demand would provide a stronger warning that the trend is changing. 13. Trade Idea — Buy on Dip Based strictly on the marked structure, the chart favors a Buy on Dip approach rather than chasing the current high. The highlighted FVG and Order Block zones provide logical areas to observe if price retraces. The chart's own trade idea identifies the upper FVG around 4577 as an important area, with the deeper structural zones below it providing additional support references. The important point is that the bullish thesis should depend on price reaction, not simply on the fact that the market has been rising. If price pulls back and produces bullish rejection from an FVG or Order Block while maintaining the higher-low structure, that would provide stronger confirmation of continuation. Conversely, if price closes decisively below the relevant support and produces a bearish MSS, the buy-on-dip idea should be reconsidered. In other words, the chart favors buying confirmation at support rather than blindly buying at the current resistance/high area. 14. Final H1 Outlook Overall, my reading of this XAUUSDm H1 chart remains bullish, with the key sequence being SSL → Liquidity Sweep → MSS → BOS → FVG/Order Block support → higher highs → BSL near the top. The market first cleared liquidity around the 4355 low and then completely changed character through a strong bullish displacement. Multiple BOS events subsequently confirmed that buyers were controlling the H1 structure. The major FVGs and Order Blocks shown on the chart provide potential retracement areas, while the 4651–4661 region represents