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Gold 1M & 15M Bearish Breaker Block Setup, Targeting 3,202 Zone

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I’ve marked a bearish breaker block on the 1-minute chart (3,316–3,319), also visible on the 15M timeframe.
✅ Last bullish push before the sharp downside breakout.
✅ Price retested this zone, wicked through it, and then sold off aggressively — reinforcing bearish order flow and the potential for deeper downside.

I’m tracking this move as the final C wave of an ABC corrective pattern.
✅ The C wave started from the 3,319 high and is unfolding in a 5-wave substructure.
✅ 1-Minute breaker block around 3,316–3,319 — I’m watching for rejection here, which aligns with the 0.618 Fib retracement as an estimated end of wave 2.
✅ My current expectation: wave (3) and (5) of C could extend lower to the 3,256–3,202 zone.

🧩 Key Confluences:

Bearish breaker block rejection

15M downtrend structure remains intact

#XAUUSD #gold #forex #elliottwave #bearishbreakerblock #orderflow #priceaction

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