Gold (XAUUSD) – H1 Wave 5 in Progress | Bearish Setup BuildingGOLD (US$/OZ)TVC:GOLDAwesomeOscDad📉 Gold (XAUUSD) – H1 Wave 5 in Progress | Bearish Setup Building 🕐 Timeframe: H1 🔍 Strategy: Elliott Wave + Support/Resistance + AO Divergence The market has likely initiated Wave 5 on the H1 timeframe following a clean 5-wave structure. We’re now watching for the internal corrective Wave 4 of Wave 5 to complete. 📌 Key Zone to Watch: Fibonacci Level 2.618 lines up with a previous support-turned-resistance zone — a high-probability reversal area. Awesome Oscillator (AO) shows convergence, signaling weakening bullish momentum. 🔧 Execution Plan: Waiting for M15 break of structure to confirm the end of the corrective sub-wave. Will look to enter sell on confirmation of bearish continuation. 🎯 Target Zone: The shaded green area below marks a strong support zone — potential TP area for Wave 5 completion.