XAUUSD QoQ TIME FRAME DATE 7/25/2024

Based on the current XAUUSD data, it is evident that the bullish long-term cycle has concluded, rendering long-term buying strategies impractical at this stage. The impulse cycle for leg 5 within leg 1 on the quarterly timeframe has completed, supported by standard deviations and a clear distribution phase.

Additionally, upcoming economic events related to the US economy, particularly the electoral outlook with President Biden out of the race, indicate adjustments likely under a Trump administration through 2024.

Currently, we are observing phase C with UTAD already formed. The target for the sell option is clearly identified on the quarterly cycle, with inducement for leg 4 anticipated below the leg 4 mark-up stage (FVG).

Examining the quarterly cycle reveals a complex correction in leg 2, influencing the broader quarterly cycle dynamics. Triangle patterns are unlikely based on statistical analysis, suggesting a potential WXY or flat correction to the downside for XAUUSD on the quarterly timeframe.

I will focus on dissecting internal cycles to identify optimal entry points with minimal risk parameters. At present, a cautious approach is advisable as we monitor market developments closely