Analysis Overview:
Gold has been moving within a clear Elliott Wave 5-wave bullish channel. The price recently completed Wave (3) and is showing early signs of a Wave (4) correction.
This setup suggests a short-term bearish retracement before the next impulsive Wave (5) rally continues toward higher targets around $4,350 – $4,400.
Short-Term Sell Opportunity (Wave 4 Correction)
Entry Zone: $4,225 – $4,235
Target (TP1): $4,120
Target (TP2): $4,060
Stop Loss: $4,260
Reasoning:
Wave (3) looks extended and due for a healthy correction.
Expect a dip toward the lower trendline or 38.2%–50% Fibonacci retracement of the recent impulse.
Long-Term Buy Opportunity (Wave 5 Rally)
Buy Zone: $4,060 – $4,100 (Wave 4 completion zone)
Target (TP1): $4,300
Target (TP2): $4,360 – $4,400 (completion of Wave 5)
Stop Loss: $4,020
Reasoning:
Price expected to bounce from the Wave 4 support / trendline.
Start of the final Wave (5) impulse should take gold to new highs in the current bullish channel.
The long-term trend remains strongly bullish.
Notes:
Wait for bearish confirmation (rejection candle or lower timeframe structure break) near $4,230 before entering short.
Look for bullish reversal signals (double bottom, engulfing candle) around $4,080 before buying.
This setup favors swing traders following Elliott Wave structure.
#Gold #XAUUSD #ElliottWave #Forex #Commodities #WaveAnalysis #TechnicalAnalysis #SwingTrade #SmartMoneyConcepts
Gold has been moving within a clear Elliott Wave 5-wave bullish channel. The price recently completed Wave (3) and is showing early signs of a Wave (4) correction.
This setup suggests a short-term bearish retracement before the next impulsive Wave (5) rally continues toward higher targets around $4,350 – $4,400.
Short-Term Sell Opportunity (Wave 4 Correction)
Entry Zone: $4,225 – $4,235
Target (TP1): $4,120
Target (TP2): $4,060
Stop Loss: $4,260
Reasoning:
Wave (3) looks extended and due for a healthy correction.
Expect a dip toward the lower trendline or 38.2%–50% Fibonacci retracement of the recent impulse.
Long-Term Buy Opportunity (Wave 5 Rally)
Buy Zone: $4,060 – $4,100 (Wave 4 completion zone)
Target (TP1): $4,300
Target (TP2): $4,360 – $4,400 (completion of Wave 5)
Stop Loss: $4,020
Reasoning:
Price expected to bounce from the Wave 4 support / trendline.
Start of the final Wave (5) impulse should take gold to new highs in the current bullish channel.
The long-term trend remains strongly bullish.
Notes:
Wait for bearish confirmation (rejection candle or lower timeframe structure break) near $4,230 before entering short.
Look for bullish reversal signals (double bottom, engulfing candle) around $4,080 before buying.
This setup favors swing traders following Elliott Wave structure.
#Gold #XAUUSD #ElliottWave #Forex #Commodities #WaveAnalysis #TechnicalAnalysis #SwingTrade #SmartMoneyConcepts
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.