XAUUSD We are currently in an upward correction on the 4H chart, developing within an ABC structure from Wave 1 into Wave 2.
✅ Wave A has already been completed.
🔁 Wave B is most likely in place – though I've also marked an alternate yellow B if the white one fails.
⚡️ We’ve seen the first impulsive push up, which I label as a smaller Wave 1 within B.
🔄 Now expecting an ABC pullback into the smaller Wave 2.
📐 The Fibonacci retracement zone (white box) marks the key area for this correction.
🎯 Blue lines inside the zone are my targets for Wave 2.
If the structure holds, we should see a clean 1-2-3-4-5 move in Wave B toward Wave C – completing the higher-degree Wave 2. After that, I expect bearish momentum to take over again.
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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.