B-Wave Bounce in Gold Market: Technical Analysis
Understanding B-Wave Bounces in Gold Market Corrections
A B-wave bounce in gold market represents a deceptive counter-trend rally that occurs within larger declining price patterns, based on Elliott Wave technical analysis principles. These intermediate recoveries create psychological traps during corrective market phases, offering false optimism before the underlying bearish trend typically continues.
Key Characteristics of B-Wave Movements:
- Temporary counter-trend rallies within broader corrective sequences
- Usually retrace between 23.6% and 61.8% of the preceding decline using Fibonacci levels
- Often fail at significant resistance zones where selling pressure intensifies
- Precede potential new lows during the subsequent C-wave…
