XAUUSD 8H

If you're reading this or found the analysis helpful, please take a moment to share your thoughts. Your opinion is valuable! Like the post if you support this idea, or comment with an explanation if you have a different perspective
I'm currently observing a distribution phase in XAUUSD, where a trading schematic seems to be unfolding based on available data. We've completed phases A (BC, AR, ST).

Phase B formed a significant area of supply (SOW) within wave 4 of the internal cycle, supported by clear price action, adding confluence to harmonic patterns.

Phase C (LPS) tested the UT zone from Phase B (resistance or demand) and elicited a reaction, indicating readiness for a corrective downward movement in gold prices. I anticipate a markdown for leg 3.

From a cyclical perspective, we've seen a reaction near the monthly standard deviation of wave 5 leg, signaling a potential reversal. Simultaneously, the standard deviation was influenced by UT during Phase B of the distribution schematic, reinforcing the harmonic pattern.

I've set a validation point with a hard stop loss at risk-off LPs in Phase D.

In terms of targets, I'm aiming to capitalize on liquidity on the sell side EQL, directly linked with leg 4 of the internal cycle, offering a clear risk-off opportunity.