Chart Overview:
Gold (XAU/USD) is at a critical juncture. The recent action shows a completed three-wave correction, and price is now setting up for what could be a powerful motive wave. My primary scenario is a bullish move once the current structure matures, but I’m also tracking alternate counts—flat, triangle, and double zigzag—all of which still point to at least one more push higher.
Why This Count?
The leading diagonal (5-3-5-3-5 or 3-3-3-3-3) for wave 1 fits the textbook, with wave 4 overlapping wave 1—a classic Elliott Wave signature.
The three-wave correction appears complete, which often signals the start of a new impulsive sequence.
I’m watching for confirmation: a completed corrective pattern and a strong move off the lows.
What’s Next?
If the correction finishes and price holds above the wave 1 low, I’ll be looking for a long setup targeting the 100% or 1.618 extension of wave 1.
Invalidation is simple: if the wave 1 low breaks, the count is off and I’ll reassess.
I’ll wait for structure to complete before entering—patience is key.
Gold (XAU/USD) is at a critical juncture. The recent action shows a completed three-wave correction, and price is now setting up for what could be a powerful motive wave. My primary scenario is a bullish move once the current structure matures, but I’m also tracking alternate counts—flat, triangle, and double zigzag—all of which still point to at least one more push higher.
Why This Count?
The leading diagonal (5-3-5-3-5 or 3-3-3-3-3) for wave 1 fits the textbook, with wave 4 overlapping wave 1—a classic Elliott Wave signature.
The three-wave correction appears complete, which often signals the start of a new impulsive sequence.
I’m watching for confirmation: a completed corrective pattern and a strong move off the lows.
What’s Next?
If the correction finishes and price holds above the wave 1 low, I’ll be looking for a long setup targeting the 100% or 1.618 extension of wave 1.
Invalidation is simple: if the wave 1 low breaks, the count is off and I’ll reassess.
I’ll wait for structure to complete before entering—patience is key.
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這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。