As we can see on the gold chart, a **liquidity sweep followed by a breakdown** has occurred, and the bears appear to have booked their profits near the bottom.

From there, I can see the beginning of a **new bullish impulse**. In my Elliott Wave count, **Wave 1 and Wave 2 appear to be complete**, and price is now potentially moving into **Wave 3**, which is typically considered the strongest and most dynamic wave of an impulse.

After the strong bullish candle, I am expecting a retracement. If that retracement holds above the appropriate invalidation level and bullish momentum continues, it could provide an opportunity to participate in the next leg higher.

My expectation is that this move could eventually develop into a **larger Wave 5 expansion**, provided the overall Elliott Wave structure remains valid.

So, rather than chasing the initial bullish move, the idea would be to **wait for the retracement, look for confirmation, and then trade the continuation toward the upside**.

This is a scenario-based analysis, not a guaranteed outcome. The wave count should be invalidated if price breaks the level that defines the current bullish structure.