XAUUSD: ABC Wave Completes Near the Sell ZoneGoldOANDA:XAUUSDKelly_Koou_Gold Gold is reacting near the upper resistance area after completing a short-term bullish Elliott structure inside the rising channel. From Kelly’s view, the current move looks like an ABC recovery that has already reached a sensitive completion zone, where buyers may start losing momentum. The key idea is simple: gold has recovered well, but price is now testing the sell zone after the ABC structure appears complete. ⟡ Market structure The chart shows gold moving inside a rising channel after a strong recovery from the lower base. Price created a clean bullish sequence, pushed into the upper resistance zone around 4,190–4,195, and then started to slow down. This area is important because it aligns with the marked sell zone and the possible completion of the latest Elliott structure. Price has already touched the upper part of the channel, which means the risk of a corrective pullback is now higher. The nearest support zones are 4,143 and 4,107. If gold starts rejecting from the current resistance, these areas may become the next reaction points. ➤ Key levels ◌ 4,190–4,195: sell zone and ABC completion area ◌ 4,179: current price reaction zone ◌ 4,143: buy scalping resistance / first pullback zone ◌ 4,107: lower support and wave C reaction zone ◌ Above 4,195: area where the sell reaction setup weakens ⌁ Elliott Wave view From an Elliott Wave perspective, gold appears to have completed a 5-wave recovery into the upper channel zone. After that, the current structure can be read as an ABC corrective phase forming near resistance. Wave A shows the first pullback from the high. Wave B may be the rebound back into the sell zone. Wave C may develop lower if sellers defend the 4,190–4,195 area. If this wave count is correct, gold may start a corrective move back towards 4,143 first, then 4,107 if selling pressure expands. ▸ Trading scenario Preferred scenario: wait for price reaction around the 4,190–4,195 sell zone. Sell reaction zone: 4,190–4,195 if bearish confirmation appears Stop loss: above the confirmed rejection high Take profit 1: 4,143 Take profit 2: 4,107 Take profit 3: 4,080 if wave C expands deeper Alternative scenario: if gold breaks above 4,195 and holds with strong acceptance, the ABC sell setup loses quality. In that case, price may continue extending inside the rising channel before forming a new structure. ⌁ Kelly’s view For Kelly, this is not a clean place to chase buy anymore. The recovery has already reached the upper resistance area, and the ABC structure may be near completion. The cleaner plan is to watch how gold reacts around 4,190–4,195. If rejection appears, a short-term corrective pullback can develop from this zone. Gold has completed a strong recovery. But near the sell zone, the next meaningful move may be a corrective wave lower. Share your view below.