Gold (XAU/USD) Wave Analysis – Bearish Expectations and When Doe
**📌 Main idea:**
This analysis is based on **Elliott Wave Theory**, as it appears that gold has completed the **Expanded Flat** correction pattern, which consists of:
- **Wave A**: Initial rise
- **Wave B**: Upward correction that exceeds the peak of A
- **Wave C**: Strong decline that breaks the bottom of wave A
#### **📉 Expected scenario:**
🔴 After the price reaches **2,886.80**, there is a strong possibility of starting a downward correction targeting:
1️⃣ **2,789.97** (initial support)
2️⃣ **2,596.32** (major support)
3️⃣ **2,536.50** (possible final target before a new rebound occurs)
#### **🛑 When is the bearish scenario canceled and the analysis failed?**
✅ **Breakthrough Clear and daily close above 2,886.80 - 2,900.00**:
- If the price breaks this area and continues to rise, this means that wave C may have failed, and the market may start a new bullish wave instead of the expected correction.
✅ **Strong buying momentum appears with the break of previous highs**:
- If we see strong rises without a clear correction, this indicates the continuation of the bullish trend instead of a bearish correction.
### **🔥 Analysis summary:**
⚡ Gold faces a possible bearish correction provided that **2,886.80** is not breached, but if the price continues to rise above **2,900.00**, the bearish scenario will fail and we may witness a new bullish extension. 🚀
**Do you have any other questions? 🔥**
XAUUSD XAUUSD XAUUSD XAUUSD
This analysis is based on **Elliott Wave Theory**, as it appears that gold has completed the **Expanded Flat** correction pattern, which consists of:
- **Wave A**: Initial rise
- **Wave B**: Upward correction that exceeds the peak of A
- **Wave C**: Strong decline that breaks the bottom of wave A
#### **📉 Expected scenario:**
🔴 After the price reaches **2,886.80**, there is a strong possibility of starting a downward correction targeting:
1️⃣ **2,789.97** (initial support)
2️⃣ **2,596.32** (major support)
3️⃣ **2,536.50** (possible final target before a new rebound occurs)
#### **🛑 When is the bearish scenario canceled and the analysis failed?**
✅ **Breakthrough Clear and daily close above 2,886.80 - 2,900.00**:
- If the price breaks this area and continues to rise, this means that wave C may have failed, and the market may start a new bullish wave instead of the expected correction.
✅ **Strong buying momentum appears with the break of previous highs**:
- If we see strong rises without a clear correction, this indicates the continuation of the bullish trend instead of a bearish correction.
### **🔥 Analysis summary:**
⚡ Gold faces a possible bearish correction provided that **2,886.80** is not breached, but if the price continues to rise above **2,900.00**, the bearish scenario will fail and we may witness a new bullish extension. 🚀
**Do you have any other questions? 🔥**
XAUUSD XAUUSD XAUUSD XAUUSD 
قناتي شخصي
t.me/Trading_Elliot
حسابي شخصي
t.me/omaryunus21
t.me/Trading_Elliot
حسابي شخصي
t.me/omaryunus21
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.
قناتي شخصي
t.me/Trading_Elliot
حسابي شخصي
t.me/omaryunus21
t.me/Trading_Elliot
حسابي شخصي
t.me/omaryunus21
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.