Gold(
XAUUSD) has successfully broken through the Resistance zone($4,205 – $4,133) at the start of this new week, and over the past ten trading days, it seems to have formed an ascending channel.
From an Elliott Wave perspective, it looks like gold has completed wave 3 and is currently in the process of completing wave 4.
I expect that after a pullback toward the Resistance zone($4,205 – $4,133)—aligning with the lower line of the ascending channel and the support lines—gold will resume its upward movement and once again target the Resistance zone($4,316 – $4,261).
First Target: $4,266
Second Target: $4,294
Stop Loss(SL): $4,151
Note: Geopolitical tensions—especially the possibility of a direct confrontation between Venezuela and the U.S.—tend to push investors toward safe-haven assets, and gold historically reacts with strong upward momentum during such uncertainty. If this conflict escalates, increased risk aversion and volatility across global markets could support a bullish continuation in gold as capital shifts away from risk assets
💡 Please respect each other's opinions and express agreement or disagreement politely.
📌 Gold Analyze (XAUUSD), 1-hour time frame.
🛑 Always set a Stop Loss(SL) for every position you open.
✅ This is just my idea; I’d love to see your thoughts too!
🔥 If you find it helpful, please BOOST this post and share it with your friends.
XAUUSD) has successfully broken through the Resistance zone($4,205 – $4,133) at the start of this new week, and over the past ten trading days, it seems to have formed an ascending channel.From an Elliott Wave perspective, it looks like gold has completed wave 3 and is currently in the process of completing wave 4.
I expect that after a pullback toward the Resistance zone($4,205 – $4,133)—aligning with the lower line of the ascending channel and the support lines—gold will resume its upward movement and once again target the Resistance zone($4,316 – $4,261).
First Target: $4,266
Second Target: $4,294
Stop Loss(SL): $4,151
Note: Geopolitical tensions—especially the possibility of a direct confrontation between Venezuela and the U.S.—tend to push investors toward safe-haven assets, and gold historically reacts with strong upward momentum during such uncertainty. If this conflict escalates, increased risk aversion and volatility across global markets could support a bullish continuation in gold as capital shifts away from risk assets
💡 Please respect each other's opinions and express agreement or disagreement politely.
📌 Gold Analyze (XAUUSD), 1-hour time frame.
🛑 Always set a Stop Loss(SL) for every position you open.
✅ This is just my idea; I’d love to see your thoughts too!
🔥 If you find it helpful, please BOOST this post and share it with your friends.
Trade active
Position activated.
Gold re-entered the ascending channel after a fake break.
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🎁Get a 20% Discount on your trading FEE on BYBIT:👉partner.bybit.com/b/PEJMANZWIN
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.