Gold (XAUUSD) 1H – Complex WXYXZ Correction & Terminal Setup

Gold (XAUUSD) Technical Analysis – 1H Timeframe

Elliott Wave Structure:

Complex corrective structure (WXYXZ)

Currently in wave Z

Wave Z Details:

Currently completing wave B of Z with an expected short-term upward move.

After completion of wave B, anticipate wave C of Z to form a descending diagonal (terminal pattern).

Potential Target for wave C of Z:

Price range indicated on the chart (3220-3172)

Key Monitoring Points:

Confirm the completion of wave B as a clear ABC correction.

Watch for signs of momentum loss and clear divergences in indicators at the start of wave C.