Timeframe: 4h
XAUUSD is currently in a corrective phase, with the potential for an upward move. However, the critical supply zone at 2750 could act as a significant barrier. A bearish reversal from this level may drive XAUUSD down to the 2550 level. The price has completed Wave (A) at 2536, marking the optimal depth of the correction. Currently, Wave (B) is developing, forming Wave C within a barrier triangle pattern. Following this, Wave D and the final Wave E are expected to occur.
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Love the clarity in explaining key supply zones and wave patterns.
A well-structured article with actionable insights for traders!
Brilliant analysis!
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