XAUUSD H4
Context:
Price has rallied strongly from the LOW (~4,000) via an ascending trendline, confirmed by a sequence of bullish CHoCHs, pushing all the way up to the current level of 4,133.
Price is now approaching the HIGH WAIT CHoCH / Liquidity + OB zone (4,146–4,159), which marks the prior swing high area — labeled "wait CHoCH" since a break of structure here hasn't been confirmed yet.
Scenario drawn on chart:
Minor chop first — a small pullback/consolidation around current price (4,093–4,133) before pushing higher again.
Break through the Liquidity + OB zone (4,146–4,159), confirming the CHoCH on this leg.
Continuation toward the Liquidity FIBO / -0.272 extension (~4,223) — the final target above, representing a fresh extension beyond the recent range highs.
Key structure:
The 4,146–4,159 zone is the critical level to watch — it's explicitly marked "WAIT CHoCH," meaning confirmation of structure break here is needed before treating the bullish continuation as validated.
The rising OB (4,074–4,093) beneath current price acts as near-term support; the ascending trendline further below adds confluence.
Liquidity $$$ (4,035) and the LOW/0.786 zone (~4,000) are the deeper invalidation levels — a clean break below the trendline and OB would undermine the bullish continuation view.
Read:
This is a trend-continuation setup approaching a key decision zone — price is in a strong uptrend (confirmed by successive CHoCHs) and is now testing the last resistance before a potential run to 4,223. The "WAIT CHoCH" label suggests patience is needed: confirmation of a break above 4,159 would validate the push toward the 4,223 target, while failure here could trigger a deeper pullback into the OB/trendline support first.
Risk note: technical read only, not financial advice — the 4,146–4,159 zone hasn't been broken yet, so treat the 4,223 target as conditional on that confirmation; use lower-timeframe structure (CHoCH/BOS) to validate the breakout before entering.