The Elliott Wave structure observed on the XAUUSD 4H chart indicates that we are approaching the end of the Wave (4) correction following a massive Wave (3) rally. The price's current breach of the red trendline and its tendency to slip below the 4,840 level have brought the final target of the correction, the $4,146 zone, to the forefront. Technically, this area aligns perfectly with the 0.382 Fibonacci retracement level. It is critically important for investors to monitor institutional buy signals emanating from this "ultimate bottom" zone. Subscribe to the Ewplans newsletter now to ensure you don't miss these professional insights and market reversals!
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