XAUUSD – Wave 1 Completed, Is the Major Wave 3 About to Begin?Higher Timeframe Outlook (Daily/Weekly)
As highlighted in the previous analysis, price has been unfolding exactly in line with our higher timeframe scenario, moving within wave (3). This confirms that the bullish structure remains intact.
📉 H4 Analysis
On the 4H chart, price appears to be completing wave (1) of (3).
At this point, two possible scenarios for wave (2) are on the table:
1️⃣ Price Correction: A deeper retracement with lower price levels.
2️⃣ Time Correction: A sideways consolidation instead of a sharp decline.
We are waiting for the market to progress a bit further in order to confirm whether the correction will be price-based or time-based. Once clarified, we can identify the best buying opportunities for the continuation of the larger wave (3) rally.
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