XAUUSD We're currently in an ABC correction following our Wave 1.
Potentially, Wave C is already completed, which would mean that Wave 2 has found its top.
❗ Why do I say potentially?
Because there's still a chance we could see a higher high before the real drop begins.
However, based on the current structure, I believe the top is in ✅
⚠️ Key Confirmation – White Trendline
📉 If we break below the white trendline, it confirms the end of Wave 2.
Then I expect a 5-wave move down:
➡️ (1) - (2) - (3) - (4) - (5)
📈 If the trendline holds, we might still see a higher Wave 2 before reversal.
📏 Fib Zones are marked on the chart for confluence and targets.
Let’s see how price reacts in the coming hours. A confirmed breakdown would set the stage for the next impulse ⚡
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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.