XAUUSD 1H Elliott Wave Outlook – Corrective Trap Before Bullish Gold (XAUUSD)CAPITALCOM:GOLDBitcoinprofitableOn the 1H chart, GOLD appears to be forming a corrective Elliott Wave pattern, likely an ABCDE triangle after completing a strong impulsive move. Price is consolidating within converging trendlines, signaling indecision before the next expansion. The current structure suggests wave (E) is nearing completion, which often leads to a breakout continuation in the dominant trend direction (bullish). The projected move shows a liquidity sweep downward before a strong impulsive rally. Entry Points: Buy after sweep below support (~wave C) with bullish confirmation Aggressive: Buy near wave (E) completion zone Exit Points: Take profit at previous highs (wave 3/5 zone) Trail profits toward projected expansion (new highs)