XAUUSD-Elliott Wave Bearish Continuation ScenarioGold vs US DollarICMARKETS:XAUUSDSIGNALS-MASTARThe 4-hour XAUUSD chart shows a completed impulsive structure to the downside, labeled as waves (1) through (5), indicating a strong bearish trend already in place. After the completion of wave (5), price appears to be forming a corrective structure, likely an A–B–C pattern. Wave A shows an initial recovery, followed by a pullback in wave B, and a projected rise into wave C. This corrective phase is typical before the market resumes its dominant trend. The projected path suggests that once wave C completes near a resistance zone, the market is expected to continue downward into a larger degree wave (3), aligning with the overall bearish momentum. The presence of lower highs and lower lows supports this outlook, while the corrective channel highlights temporary consolidation rather than a full reversal. Entry Points: Look for sell (short) entries near the completion of wave C (resistance zone around recent highs). Confirm entry with bearish candlestick patterns or rejection signals. Exit Points: Initial take profit near previous swing low (wave V bottom). Extended target toward projected wave (3) completion lower. Stop loss above the wave C high to manage risk effectively. Patience during correction is key for optimal positioning.