Gold: IV or New Impulse?GoldOANDA:XAUUSDMehdi_Abbasi_EWPTwo valid Elliott Wave scenarios are currently on the table for Gold. Aggressive Scenario The current rally may still be developing as Wave A of a corrective structure within the larger Wave IV. After this advance is complete, the market could form a corrective Wave B, followed by another rally to complete the overall corrective pattern. This structure may become complex, multi-legged, and time-consuming. Once Wave IV is complete, another decline could follow, potentially with strong downside momentum. Conservative Scenario The recent low may represent the completion of a Triple Zigzag, meaning Wave IV could already be complete. In that case, the current advance may be the beginning of a new impulsive sequence. After the initial advancing wave is complete, the market should produce a corrective structure of any valid form. If the following advance continues impulsively relative to its degree, the broader Bull Market scenario gains stronger confirmation. Conclusion: The key is not to predict the future, but to observe what the structure reveals. The next major clue will be whether the current advance remains corrective or develops into a sustained impulsive sequence. Mr. Nobody | Elliott Wave Principle Structure first. Prediction second. Aug 7 Gold | Tracking Wave IV Before the Next Major Move Gold Spot / U.S. Dollar May 17 Gold 4H: Leading Diagonal or Just the Beginning?