#XAUUSD Elliott Wave Analysis

We said the structure points lower. Gold listened.

The decline from the highs is tracing out a clean descending structure, wave (iii), (iv), and now (v) of C completing the larger (Y) leg. Price is grinding into the lower boundary of the channel exactly where a final C wave should end.

Now comes the interesting part. RSI is printing higher lows while price prints lower lows. Same story on the AO histogram. That divergence is not noise, it's the market telling you the selling pressure is fading even as price pushes down.

One more leg lower into that channel support, and the bigger turn could begin.

This is what trading is really about. Being positioned before the crowd notices, not chasing candles after the reversal is obvious.

The turn is coming. The only question is whether you watch it happen or you're already in.