Gold has been moving with impressive strength.

After defending the 4,020–4,040 H4 OB, price shifted structure, accelerated higher and built a strong bullish wave toward the 4,375–4,385 External BSL.

But this is where the chart becomes more interesting.

Price has now reached the liquidity sitting above the previous highs. Instead of assuming that momentum must continue, I’m shifting my focus to how price reacts after the liquidity is taken.

🔎 What I’m Watching
H4 structure remains bullish after the recent CHoCH and displacement.
External BSL around 4,375–4,385 has been reached.
The bullish wave is extended, making a corrective phase increasingly relevant.
4,230–4,245 Small OB is now my primary reaction zone.
If the correction becomes deeper, 4,105–4,125 H4 FVG becomes the next area of interest.
🧭 My Bias

Bullish structure remains intact, but I prefer to see a retracement before considering the next expansion.

The key question is simple:

Will 4,230–4,245 attract another reaction, or will price continue searching for deeper liquidity?

I’m not interested in chasing the strongest part of the move. I want to see where the market chooses to defend its structure.

⚠️ Structure Check

As long as the 4,020–4,040 H4 OB remains defended, the broader bullish structure remains valid.

A sustained H4 break below this area would be a meaningful change in the current narrative.

💡 The Real Test

The move toward 4,380 was the easy part to identify.

The interesting part starts after liquidity is taken.

Now I’m watching the reaction around 4,230–4,245 to see whether this becomes a healthy retracement within the bullish structure — or the beginning of something deeper.

Let the reaction reveal the next chapter.