Gold’s larger structure is currently at a critical stage.

At this point, only a decisive break above the current all-time high, followed by a clearly impulsive structure, can confirm the continuation of the broader bullish trend. A brief breakout alone is not enough — the internal structure of the move after the breakout is equally important.

Until then, the main priority is to observe price behavior and evaluate the possibility of a corrective structure developing.

According to the Guideline of Alternation between Waves II and IV, Wave IV is not expected to necessarily resemble Wave II in form, depth, or duration. Therefore, the upcoming correction may be small or large, shallow or deep, fast or time-consuming. It may also develop into a sideways or more complex structure.

However, within the current scenario, any corrective pattern that develops is initially being treated as Wave B of a Classic Zigzag — a movement that may become part of the larger process of completing Wave IV of the higher degree.

For this reason, a bullish move on lower time frames does not necessarily mean that a new bullish trend has begun. Within the larger structure, that same move may represent only one part of a corrective pattern.

I have included the daily analysis below to demonstrate the value of understanding the Elliott Wave Principle from a structural perspective. The purpose of Elliott Wave is not simply to predict the next price move.

The goal is to understand where the market is positioned within its structure, which pattern is developing, and which scenario remains valid.

The Elliott Wave Principle is not a tool for predicting the future. It is the language of market structure.

The market has not given its final answer yet.

Follow the structure — not the excitement.

Research never ends.

– Patterns whisper. I listen. –
Mr. Nobody 🎧📊

Gold Spot / U.S. Dollar
May 17
XAUUSD Daily: Whispers of the Wave – Extension Confirmation & Ma