Gold Reversal Setup Toward 4,773

This looks like a bullish retracement setup on XAUUSD using a Fibonacci pullback from the recent swing high into a strong support zone.

Here’s the structure I see:

Price aggressively sold off into the blue support zone around 4,500–4,520.
That area aligns with:
prior demand/support,
the descending trendline break,
and a liquidity sweep below recent lows.
After reclaiming the support zone, price started bouncing and the chart projects Fibonacci retracement targets upward.

The marked Fib levels appear to be:

0.79 → ~4,556
0.705 → ~4,582
0.62 → ~4,605
0.5 → ~4,651 (also near the 200 EMA)
Full retrace target → ~4,773

The idea is essentially:

Hold above support.
Break short-term structure upward.
Retrace into inefficiency/FVG zones and EMA resistance.
Potentially continue toward the previous high.

The 200 EMA is important here because price is currently below it, meaning the higher-timeframe trend still has bearish pressure. The area around 4,650 is likely the key decision zone:

rejection there → continuation lower,
clean reclaim and hold above → stronger bullish continuation odds.

Your drawn path suggests:

short-term bullish recovery,
then continuation toward the prior swing high near 4,773 if momentum persists.

One caution:
The projected move is quite large relative to the recent volatility, so confirmation would ideally include:

higher lows forming,
reclaim of the 0.62/0.5 Fib levels,
and strong volume through the EMA.

The chart structure itself is clean:

liquidity sweep,
trendline break,
support reclaim,
Fib expansion roadmap.

The Fibonacci retracement concept being used here is: