XAUUSD 4-Hour Chart
Timeframe
XAUUSD 4-Hour Chart: This analysis uses Elliott Wave Theory and Fibonacci retracements to project the market’s next potential movements. Currently, the chart suggests that we are in the C-wave of a larger correction. Within this wave, I anticipate that the second subwave of wave C will likely exhibit a corrective structure (e.g., Zigzag or Flat), in line with the expected price retracement dynamics.
The market is approaching a critical sell zone, identified using Fibonacci levels and prior structural highs, where a potential reversal could occur. After this corrective move, I expect the market to continue its downward trend, completing the C-wave in alignment with Elliott Wave projections.
Additionally, the market sentiment may also be influenced by geopolitical factors, particularly Trump’s leadership and related policies, which are likely to drive volatility and a bearish bias in the medium term.
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