Magnificent market structure, bounce on last ATH
Rectangles are just there for fun, yet many types of fundamental analysis project prices in the 6 digits and the rectangles may end up being kinda accurate..
Was drawn in a minute and is clearly not advise of any type.
As you can see in the picture XAUUSD currently can go for bullish. but it is near the upper band of the channel so it is too risky for entry.
So, we can wait for entrancement to bellow support and if price action and candlestick pattern confirm we can go for buy with lower risk and better risk-reward ratio.