Gold - Bump and Run Reversal Pattern (BARR) in Progress

This 4-hour chart of Gold XAUUSD suggests a potential Bump and Run Reversal (BARR) pattern developing. The pattern is composed of three distinct phases:

Lead-In Phase: Gold has been trending steadily higher along the lead-in trendline, which shows a moderate, consistent rise.

Bump Phase: A steeper acceleration occurred, representing the bump, where prices moved sharply higher, breaking away from the lead-in slope. The bump's completion may signal that the current uptrend is overextended.

Run Phase: A potential reversal could be forming, as the price is hovering near key Fibonacci levels. A break below the Lead-in trendline would confirm the start of the run phase. This coincides with significant upcoming economic events such as the PMI and NFP releases, which may act as catalysts for the major move.

Should this reversal materialize, we could see prices move significantly lower towards the $2,480 level during the run phase.

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