XAU/USD – Wave 3 in Motion?

We’re currently monitoring what appears to be a textbook Elliott Wave 1-2 structure, with Wave (2) bottoming near $3,293. Price has since pushed up and consolidated above the 0.5–0.382 retracement zone, holding firm at key EMAs and structure.

🔍 Key Technical Highlights:

Wave (1): Clean impulsive structure.
Wave (2): Corrective decline finding strong support at $3,293.
Current consolidation suggests accumulation before potential Wave (3) breakout.
Confluence of Fib extensions & upper trendline project Wave (3) towards $3,484, aligning with the -0.27 extension.

🧠 What I’m Watching:

Break and retest of the $3,400–$3,415 level (0.236 Fib) to confirm bullish continuation.
Holding above $3,372–$3,390 (the golden pocket and 0.5/0.382 zone) is key to maintaining the bullish bias.
A clean break below $3,353 invalidates this immediate structure.

📈 Bias: Bullish
🎯 Next target: $3,484
⛔️ Invalidation: Break below $3,350

💬 Let me know your thoughts. Are we about to ride Wave 3, or will gold give us one more dip before lift off?