XAUUSD 📊 Elliott Wave Analysis (Overview)
🔹 Primary Structure: We're currently moving from white Wave 3 into white Wave 4.
🔹 Wave 4 Breakdown:
So far, Wave 4 is developing as a typical ABC corrective pattern.
Waves (A) and (B) (in brackets) have already been formed.
🔹 Wave (B) Internal Structure:
Wave (B) is unfolding as an impulse: we’ve completed Bracket 1, Bracket 2, and we’re now on the way into Bracket 3.
Within Bracket 3, we've already built a yellow Wave 1 and a potential yellow Wave 2.
🔹 Current Market Condition:
For the bearish scenario to stay valid, we must remain below the red trendline.
If we break above the red trendline, then yellow Wave 2 would likely extend higher and complete itself inside the red Fibonacci zone — making the correction deeper.
🎯 Target Zones:
Targets for yellow Wave 3 and the broader Bracket 3 are already displayed on the chart.
However, these targets can still be adjusted depending on how price unfolds in the coming sessions.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.