— XAUUSD/H4 — Market Analysis - June 10 📊 PART 1: UNDERSTANDING THE CURRENT ELLIOTT WAVE CYCLE ➤ According to Elliott Wave Theory, a complete market cycle consists of five impulsive waves followed by a three-wave corrective structure (ABC). ➤ Based on the current price action, gold appears to be developing Wave 5 , the final impulsive wave of the ongoing bearish cycle. 📊 Key reasons supporting the Wave 5 scenario: • The market continues to form lower highs and lower lows. • Multiple bearish Breaks of Structure (BOS) have confirmed the prevailing downtrend. • Bearish momentum has remained dominant throughout the decline from the 4540 resistance region. ➤Wave 5 is often the stage where bearish sentiment becomes most extreme. While the trend may appear strongest during this phase, it is also where downside momentum frequently begins to exhaust itself before a larger corrective move develops. ➤For this reason, traders should pay close attention to signs of seller exhaustion as the market approaches major liquidity zones.