XAUUSD: Buying Without Confirmation Is DangerousGoldOANDA:XAUUSDBrightRally_ResearchGold remains in a strong broader uptrend, with the recent ABC correction finding support near 4583. Price is now recovering toward the 4650 resistance zone, where sellers may initially appear. 50 EMA is providing support to the current price, and there is an extension of wave 5 of wave 3. Wave 4 has formed a massive, respectable corrective channel, and the price recently bounced from the lower band of the corrective channel. Guidelines say corrective waves often follow the equality rules, and here we found that on the chart. There are the following resistance levels can be used as targets: 4673 - 4693 - 4756. Buyers should keep in mind that price has to provide evidence by breaking the resistance zone in order to activate the setup. I will update with further information soon. By @BrightRally_Research on @TradingView