Elliott Wave Update – Is Wave 2 Complete?

XAUUSD
We're currently in an ABC correction following our Wave 1.
Potentially, Wave C is already completed, which would mean that Wave 2 has found its top.

❗ Why do I say potentially?
Because there's still a chance we could see a higher high before the real drop begins.
However, based on the current structure, I believe the top is in ✅

⚠️ Key Confirmation – White Trendline

📉 If we break below the white trendline, it confirms the end of Wave 2.
Then I expect a 5-wave move down:
➡️ (1) - (2) - (3) - (4) - (5)

📈 If the trendline holds, we might still see a higher Wave 2 before reversal.

📏 Fib Zones are marked on the chart for confluence and targets.

Let’s see how price reacts in the coming hours. A confirmed breakdown would set the stage for the next impulse ⚡