Gold 1H | The Third Wave in FocusGoldCAPITALCOM:XAUUSDMehdi_Abbasi_EWP**Reading time: ~3 minutes** Continuing our bearish scenario for Gold, the current wave count focuses on the development of a bearish motive structure. Based on the labeling shown on the chart, price may be approaching the completion of Wave 3, which would set the stage for a corrective Wave 4 followed by a potential Wave 5 to the downside. ### Wave 3 | The Structure Unfolds The character of the bearish move, wave proportions, and price progression within the drawn channels form the basis of the current count. From this perspective, intervening corrections are part of the structural development. As long as they remain consistent with the expected wave degree and personality, they do not, by themselves, indicate a change in market direction. If price continues to develop in line with the current count, we will first track the completion of Wave 3, followed by the formation of a corrective Wave 4. Afterward, Wave 5 could extend the decline at the degree currently under examination. ### Structural Levels and Targets The **4,073.58** area is marked on the chart as the bearish confirmation level. If the structure continues to unfold in line with the current count, the projected levels at **4,050.06, 4,027.27, and 3,921.57** will serve as subsequent reference points for tracking price development. These levels are meaningful within the context of the current structure, so they must be assessed alongside the actual progression of the waves. ### When Should the Count Be Reassessed? The **4,283.98** area, labeled *First Wave Territory* on the chart, is an important structural reference. If price behavior becomes inconsistent with the current count and the relationships between the waves, the wave degrees, wave personality, and labeling should be reassessed. Revisiting a count does not mean abandoning the Elliott Wave Principle. It is part of applying it correctly. The validity of a count depends on how well it aligns with the actual market structure. ### Final Thoughts The current view follows a bearish structure in which Wave 3 is expected to complete, followed by a corrective Wave 4 and a potential continuation lower through Wave 5. As long as the market continues to develop in line with this structure, we will follow the outlined path and targets. If the structural evidence changes, the count will be reassessed accordingly. **Our goal is not to predict price, but to understand how market structures develop and unfold.** **Structure > Forecast** *Patterns whisper. We listen.* **Mr. Nobody 🎧📊** Gold Spot / U.S. Dollar yesterday Gold 2H | One Triangle, Two Structural Possibilities