FX.co ★ FlyWithEagle | XAU/USD, GOLD

Gold XAU/USD Analysis 15 Minutes Timeframe January 1, 2026

The 15‑minute XAUUSD chart shows a market that has shifted from a strong bearish move into a short‑term accumulation phase. After the heavy selloff that created the BOS (break of structure) to the downside, price began to move sideways between a clearly defined internal range low, marked by the recent swing around 4,300, and an internal range high near 4,360. Within this band, liquidity is building on both sides as traders place stops above minor highs and below minor lows. The repeated taps of the mid‑range and the compression of candles suggest that smart money is accumulating positions while retail traders are being whipsawed. Volume spikes on the sharp down legs contrast with relatively lower volume on the small bullish pushes, confirming that sellers were initially in control, but the failure to print new lows after the BOS indicates that bearish pressure is fading and the market might be preparing for a corrective move upward toward previously unmitigated supply. Looking broader, the external range liquidity resides above the higher‑timeframe swing highs around 4,380–4,400 and below the sell‑side liquidity resting under the recent major low of the impulsive drop. Above, buy‑side liquidity is stacked in the form of buy stops from short sellers and breakout buyers waiting for price to push beyond the visible equal‑high zone close to 4,382–4,390. The chart marks a premium zone nearer the top of the overall range, where institutional players are likely to unload longs or add fresh shorts once liquidity is collected. Conversely, the sub‑4,300 region holds external sell‑side liquidity where the first aggressive selloff ended. Because price has already swept the internal lows but failed to follow through, it hints that smart money may have used that drop to grab sell‑side liquidity, close shorts, and quietly build long positions in discount pricing. This balance between internal range liquidity and untouched external liquidity above favors a scenario where the market seeks buy‑side stops first before deciding the next major leg. Within this context, the most relevant order block is the last strong bearish candle before the sharp move up that reclaimed part of the earlier drop. That bearish candle, formed just before the impulsive move away from the 4,300–4,310 zone, acts as a bullish order block in a discount region of the overall swing. Price has already reacted to this block once, bouncing from that demand area and forming a minor IDM (internal dealing range) structure. Each revisit into this block, especially if accompanied by declining sell volume, increases the probability that institutional orders remain partially unfilled and that the zone can still generate a significant expansion move. The fact that the order block sits near the internal range low means that it is positioned where late sellers tend to enter after a drop, leaving their stops just above nearby highs; this is precisely the type of liquidity smart money uses to fuel a reversal. As long as the body of that original bearish candle holds on a closing basis, the bullish order‑flow bias from that block remains valid. A practical trade setup is to look for a long entry from the bullish order block once price returns to the 4,305–4,315 region with evidence of rejection, such as a bullish engulfing candle or a strong rejection wick on increased volume. The stop‑loss can reasonably be placed just below the order‑block low and beneath the most recent swing low, around 4,295–4,298, ensuring that the trade is invalidated only if the market genuinely breaks structure again to the downside. The first target would be the internal range high near 4,360, where internal buy‑side liquidity resides and where partial profits can be secured. A more ambitious second target sits near the external liquidity zone around 4,380–4,390, close to the marked premium area, where price is likely to react strongly as resting buy stops are triggered. This creates a favorable reward‑to‑risk profile, with the idea that you are buying at discount from a clearly defined order block, aligned with the potential for the market to sweep internal and then external buy‑side liquidity before any larger directional decision is made.