GOLD - Two Scenarios, One Pattern

Gold is consolidating within what appears to be a triangle structure, and that’s where things get interesting.

Right now, the price action looks corrective — likely forming a B wave triangle.
But the key question is what kind of B wave we’re dealing with:

🔹 Scenario 1: B Wave Triangle

If this is part of a larger correction, then the triangle is acting as a Wave B structure.
That would mean we’re setting up for a final C-wave decline, possibly taking gold lower and leading to a strong base forming afterwards.

🔹 Scenario 2: B Wave Triangle Within an ABC Zigzag

Alternatively, we could be seeing a B-wave triangle inside a larger ABC pattern.
In this case, the triangle still suggests that the next move is down, but in this instance, Gold could be starting a 5 Wave Impulsive decline leading to a deeper correction.

Triangles like this often compress volatility before releasing it in one decisive move.
Until we see a clear breakout, gold is likely to remain range-bound — but a break below the triangle’s lower boundary would confirm the continuation of the correction.

In short:
Both scenarios point toward one thing —
📉 The next significant move is likely to the downside before the larger trend resumes.