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Elliott Wave Analysis – XAUUSD | February 7, 2025 🌀 Elliott Wave Structure (H1 Timeframe) Looking at the current price structure, we can see that the price is moving sharply and steeply—this suggests the formation of a 5-wave impulsive structure. Specifically: - Waves 1, 2, and 3 (green) appear to have completed. - Currently, wave 4 is forming as a 3-wave corrective structure (abc in black). - Once wave 4 completes, we anticipate the next upward move as wave 5, which will complete the full 5-wave cycle (green). 🎯 Potential Price Targets for Wave 4 Based on the structure of the abc correction and support zones, we identify two key target areas: + Target 1: 3324 + Target 2: 3311 When the price breaks above the top of wave b (black), it will serve as a strong confirmation that wave 4 has ended and wave 5 is beginning. 📈 Momentum Analysis Daily (D1): Momentum is still rising and likely needs 2–3 more days to enter the overbought zone, supporting the continuation of the uptrend. H4: Momentum is about to turn upward, signaling wave 4 may be nearing completion. H1: Momentum is also preparing to turn up, suggesting the price is approaching the end of the wave 4 correction zone. 💼 Trading Plan BUY ZONE: 3325 – 3322 STOP LOSS: 3215 TAKE PROFIT 1: 3345 TAKE PROFIT 2: 3368 TAKE PROFIT 3: 3395 📌 Wait for H1–H4 momentum alignment before triggering a BUY entry for wave 5.
OANDA:XAUUSDLong
by WavePoint_FX
Elliott Wave Analysis – XAUUSD Trading Plan for June 30, 2025 🌀 Elliott Wave Structure On the H1 chart, we observe a double zigzag correction WXY (in red). Currently, Wave Y appears to be developing as a green abc structure. In this abc structure: + Wave a started with a leading diagonal (5-wave triangle). + Wave b followed as a typical abc correction (in black). + Wave c is currently unfolding as a clear 5-wave impulsive move, characterized by sharp and rapid price action. The key issue now is to determine whether: + The price has completed wave 5 (black), or + It has only completed wave 3 (black) within the green wave c. If the current movement is wave 3 (black), we should expect a wave 4 correction, followed by one more leg down to complete wave 5. In this scenario, wave 5 will be confirmed if the price breaks below 3255. There are two potential target zones for wave 5: + Zone 1: 3247 + Zone 2: 3224 If wave 5 has already completed, the upward move to 3283 could be wave 1 of a new bullish trend. The next pullback would be wave 2, with an expected target between 3266 – 3261. ⚡️ Momentum Analysis D1 timeframe: Momentum is in the oversold region, suggesting a high probability of a bullish trend in the upcoming week. This supports the view that wave c (green) of wave Y (red) is nearing completion. H4 timeframe: Momentum is turning bullish, indicating the current upward movement may continue. This adds to the uncertainty about whether wave 3 or wave 5 has ended. 🧭 Trading Plan 📍 BUY ZONE 1 Entry: 3264 – 3261 SL: 3254 TP1: 3283 | TP2: 3297 | TP3: 3315 📍 BUY ZONE 2 Entry: 3247 – 3244 SL: 3237 TP1: 3283 | TP2: 3297 | TP3: 3315 ⚠️ Important Note This trading plan assumes either wave 3 or wave 5 has completed. Therefore, if in the early Asian session, the price does not touch the 3264 – 3261 zone but instead rises above 3283 without closing above 3297, and then drops back below 3283, we should avoid buying at 3264 – 3261. Instead, we should wait for a potential entry at the 3247 – 3244 zone.
OANDA:XAUUSDLong
by WavePoint_FX
Elliott Wave Analysis – XAUUSD Plan for June 26, 2025 🌀 Wave Structure On the H1 chart, our previous plan anticipated price movement within green wave 3. However, the current price action lacks the sharp, impulsive characteristics typically seen in wave 3. Instead, the overlapping structure of minor waves suggests that we may not be in wave 3. This leads us to consider two primary scenarios: 🔹 Scenario 1 – abc Correction (black): Price may be forming wave c (black). However, due to the overlapping nature of recent price moves, it is likely that wave c is developing as an ending diagonal (wedge). ➡️ Confirmation signal: A sharp, steep decline that breaks below the 3297 level would signal that wave c has completed. 🎯 Target zone for wave c: 3352 – 3356 🔹 Scenario 2 – Leading Diagonal in Wave 1: The overlapping price structure could also be forming a leading diagonal (3-3-3-3-3) as wave 1. In this case, price is currently in wave 3 or 4 of this formation. ➡️ Once wave 1 completes, we expect a retracement to the 0.618 Fibonacci level of the entire wave 1 – forming wave 2. 🎯 Target zone for the end of wave 1: 3352 – 3356 📉 Momentum Analysis Momentum plays a crucial role in determining which wave structure is unfolding. D1 Timeframe: Momentum is turning upward from the oversold zone – indicating that the downtrend may be ending. This supports the scenario of a leading diagonal wave 1 and suggests we may see a sustained bullish move over the next 5 days. H4 Timeframe: Momentum is preparing to reverse downward from the overbought zone. This is a key signal to monitor today, especially during tonight’s news events. If price continues to move sideways within a wedge, it would support the leading diagonal scenario. If price breaks down sharply, it would favor the abc correction scenario. 🧭 Trade Plan 🔻 Sell Zone: 3352 – 3355 ⛔ Stop Loss: 3362 🎯 Take Profit 1: 3333 🎯 Take Profit 2: 3323
OANDA:XAUUSDShort
by WavePoint_FX
Elliott Wave Analysis – XAUUSD Plan for June 25, 2025🌀 Elliott Wave Structure Looking at the H1 chart, we can see a 5-wave black triangle structure has formed within wave Y. This suggests two possible scenarios: Scenario 1: Wave Y has completed → the current upward move is wave 1 of a new 5-wave green structure. The ongoing pullback would then be wave 2 of this sequence. Scenario 2: Wave A of wave Y has completed as a 5-wave move → we are now in wave B of wave Y, which typically forms a 3-wave pattern. In this case, wave a (black) has formed and wave b (black) is currently developing. ✅ In both scenarios, the ongoing decline is a shared element — representing a buying opportunity. 🎯 Key Target Zones Target 1: 3313 – 3310 Target 2: 3301 ⚠️ If price breaks below 3297, the current wave count is invalidated, and we must prepare for a deeper correction. Updates will follow if that happens. 🔁 Momentum Outlook D1 Timeframe: Momentum is about to reverse upward. We expect at least 5–6 days of bullish movement for D1 momentum to reach overbought territory ⇒ This supports a potential short-term uptrend and favors both bullish wave counts. H4 Timeframe: Momentum is about to reverse downward from the overbought zone → A further decline to our buy zones is likely. H1 Timeframe: Momentum is currently declining → The ongoing pullback is expected to continue. 📌 What to wait for: A bullish reversal in H1 momentum aligned with H4 in the oversold region will confirm the bottom is in. ✅ Trade Plan 🔹 BUY ZONE 1: 3313 – 3310 • SL: 3306 • TP1: 3335 | TP2: 3350 | TP3: 3376 🔹 BUY ZONE 2: 3303 – 3301 • SL: 3296 • TP1: 3335 | TP2: 3363 | TP3: 3376
OANDA:XAUUSDLong
by WavePoint_FX
1
tXAU/USD Bullish Reversal from Key SupportXAU/USD Bullish Reversal from Key Suppor 📈🟢 📊 Chart Analysis: Rounded Bottom Structure ⬆️ The price has formed a rounded bottom pattern, indicating potential trend reversal from bearish to bullish. Multiple bounces (🟠 circles) from the curved support trendline confirm the validity of this structure. Support Zone Rejection ✅ Price recently rejected from a major horizontal support zone (around 3,303.796 USD) with a strong bullish wick. This zone has acted as a springboard for prior upward moves. Falling Wedge Breakout 💥 A falling wedge (bullish pattern) has formed and is breaking to the upside. Breakout confirmation is underway, indicating momentum shift. Target Projection 🎯 The projected move from the breakout suggests a potential target at 3,385.820 USD. This aligns with previous resistance areas. Key Levels to Watch: Resistance: 3,385.820 USD (target) and 3,425–3,450 USD (major resistance zone) Support: 3,303.796 USD (short-term), followed by 3,225–3,250 USD zone 🔔 Conclusion: Price action suggests a bullish bias with a possible upward continuation if it sustains above the wedge breakout. Confirmation above 3,330 USD with volume can fuel a rally toward the 3,385–3,400 USD target zone. 📌 Risk Management Tip: Watch for fakeouts near wedge resistance or a re-test of 3,303 USD for better entries.
OANDA:XAUUSDLong
by MrStellanSight
Elliott Wave Analysis – XAUUSD June 24, 2025 🌀 Wave Structure Looking at the H1 chart during the Asian session today: + Price broke below the previous low at 3341, invalidating the idea that Friday’s rally marked the beginning of a new uptrend. + Instead, the rally appears to be forming a wave X in a larger WXY corrective structure. + Given the current complex corrective pattern, it’s challenging to precisely define the exact wave shape and targets. 🔻 Wave Y Structure: + The price action suggests the formation of a 5-wave decline, with the market currently in wave 4. + Wave 4 target zone: 3357 – 3363 → Sell zone. + After completing wave 4, we expect a continuation of the downtrend via wave 5, with a target around 3327 – 3324 → Buy zone. + Once wave 5 completes, we anticipate at least a corrective upward retracement, with targets at 3363 – 3376 (these are the TP levels for the buy trade). ⚡️ Momentum Analysis + D1 timeframe: Momentum is turning bullish, suggesting a potential rally lasting around 5–8 D1 candles after wave 5 finishes. + H4 timeframe: Momentum is declining and may enter oversold territory within 1–2 candles, supporting the completion of wave 5. + H1 timeframe: Momentum is rising and approaching overbought levels, indicating a likely end of wave 4 within 1–2 H1 candles. 📌 Trade Plan 🔹 SELL ZONE: 3363 – 3365 + SL: 3373 + TP1: 3342 + TP2: 3330 🔹 BUY ZONE: 3327 – 3324 + SL: 3317 + TP1: 3342 + TP2: 3363 + TP3: 3376 + Important Note:❗️ - If price reaches these zones with a Mazuboru candle (long-bodied candle with no wick) and fast volatility, do not enter immediately. - Wait for the candle to close. If the zone breaks, keep an eye on the next support area around 3313 for potential reactions.
OANDA:XAUUSDLong
by WavePoint_FX
Elliott Wave Analysis – XAUUSD | June 23, 2025 🌀 Current Wave Structure – H1 Timeframe In previous plans, we were debating between two triangle patterns in green: 1. A leading diagonal triangle forming wave 1, or 2. A corrective triangle structure forming wave X (as labeled on the chart). In last Friday’s plan, I also identified a five-wave triangle structure forming within wave c, with strong evidence of completion shown by a sharp bullish candle. 📰 News Supporting the Move At this point, it seems war-related news is supporting an upcoming bullish trend, which also strengthens the case that a three-wave abc correction (black) has completed. We are now expecting a bullish leg this week. 🎯 Price Outlook The current zone is a promising area for a BUY NOW setup. However, we should be cautious about the potential gap-up at the market open. If that occurs, we’ll observe whether the gap gets filled to reassess the buy zone. If price rallies to the 3382 area and then pulls back, we will look for a swing BUY entry around 3357. 📈 Momentum & Larger Wave Outlook D1 timeframe: Momentum is about to shift upward, indicating a potential strong and steep bullish trend this week. If confirmed, this supports the scenario that wave 2 (black) has ended and wave 3 is beginning. However, if price moves in a slow and overlapping fashion, we must prepare for an alternative scenario: that the correction is not yet complete, and another leg down may occur to finalize the structure. H4 timeframe: Momentum has already shifted to the upside, suggesting a high probability of a gap-up during the Asian session open. H1 timeframe: Momentum is also about to reverse to the upside, allowing us to consider buying at current levels. 📝 Trade Plan – BUY Setup: ✅ Buy Zone: 3361 – 3379 ❌ Stop Loss: 3351 🎯 Take Profit Targets: TP1: 3382 TP2: 3396 TP3: 3412
OANDA:XAUUSDLong
by WavePoint_FX
Elliott Wave Analysis – XAUUSD Trade Plan for June 19, 2025 🌀 Wave Structure On the H4 timeframe, following a strong selloff, price is now consolidating within a narrow price channel — suggesting that we are currently in wave b (black) of an abc correction. This structure implies that one more leg down is likely to complete wave c (black). However, due to the overlapping and sideways nature of the move, it's difficult to clearly identify the end points of waves a and b, making traditional Fibonacci targeting less effective. ➡️ To improve accuracy, we’re combining Volume Profile data with price action and have identified four key support zones: 3349, 3335, 3313, and 3297 Among these, we’re giving special attention to: 🎯 Target 1: 3335 🎯 Target 2: 3297 We'll wait for bullish momentum signals near these levels to increase the probability of catching the end of wave c. 🔋 Momentum Outlook Daily (D1): Momentum is about to enter oversold territory. By the end of today or tomorrow, the daily candle is expected to confirm this — suggesting a weakening bearish trend. H4: Also approaching oversold. If price is hovering around one of the key support levels (3349 | 3335 | 3313 | 3297) when this happens, and the D1 is already oversold, then we may be looking at a high-probability reversal zone. H1: Nearly oversold as well — expect a short-term bounce soon. The best timing for a BUY will be when the H1 starts turning bullish while both the D1 and H4 are oversold. ✅ Trade Setup 🔹 Scenario 1 BUY ZONE: 3336 – 3333 SL: 3326 TP1 | TP2 | TP3: 3345 | 3378 | 3402 🔹 Scenario 2 BUY ZONE: 3300 – 3297 SL: 3290 TP1 | TP2 | TP3: 3313 | 3345 | 3402 ⏳ Patience is key — wait for confluence between support zones and momentum reversals. That’s where the high-probability BUY setups emerge.
OANDA:XAUUSDLong
by WavePoint_FX
Elliott Wave Analysis – XAUUSD | June 18, 2025 🌀 Current Wave Structure on H4 The recent drop has broken below the previously labeled wave 1 zone, requiring an adjustment to our wave count. Following the abc corrective move (black), a potential triangle formation is emerging. At this point, we’re monitoring two possible scenarios: 🔹 Scenario 1 – Triangle as a Wave X Correction: Price is forming an abcde triangle, potentially part of a larger WXY corrective structure. If this plays out, we may see a strong decline forming wave Y, targeting a break below 3297, and possibly extending to 3248. 🔹 Scenario 2 – Leading Diagonal Triangle as Wave 1: If this is a leading diagonal triangle for wave 1, then wave 1 is likely completed, and we are currently in wave 2. In this scenario, price should hold above 3248, with likely support zones around 3335 or 3300. 🎯 Key Price Zones & Resistance Levels Major Resistance: 3389 – 3402 (based on volume profile) – prime area for potential short setups. Short-term Resistance Levels: 3389, 3402, 3412 – watch for reversal signals here. 🔻 Momentum Outlook Daily (D1): Momentum is declining and expected to enter oversold territory within 2 candles – indicating a weakening downtrend and supporting the leading diagonal scenario. H4: Momentum is preparing to turn bearish – supports short opportunities. H1: Already turned bullish – suggests a possible corrective bounce before the next drop. 📌 Trade Plan 🔴 Sell Zone: 3400 – 3403 • SL: 3410 • TP1: 3365 • TP2: 3335 🟢 Buy Zone 1: 3335 – 3332 • SL: 3325 • TP1: 3365 • TP2: 3402 🟢 Buy Zone 2: 3302 – 3209 • SL: 3292 • TP1: 3335 • TP2: 3365 • TP3: 3402
OANDA:XAUUSDShort
by WavePoint_FX
I Elliott Wave Analysis – XAUUSD June 16, 2025🌀 Elliott Wave Structure On the H1 timeframe, price is forming a 5-wave structure (1) (2) (3) (4) (5) in green, with the market currently in wave 4. Last Friday, after breaking above the 3444 high, price failed to continue toward 3482 and instead reversed lower. This behavior suggests that wave 4 is developing as a Flat correction in black abc structure. 👉 Based on this outlook, wave c is expected to complete around 3314, marking the end of wave 4 in green. From there, a bullish impulse is anticipated to complete wave 5. 🔎 Momentum Overview D1 timeframe: Momentum is rising → indicating the dominant trend for early this week is likely bullish. H4 timeframe: Momentum is declining → supporting the scenario that wave c of wave 4 may still have one more leg down. H1 timeframe: Momentum is about to turn downward → suggesting a potential drop during the Asian session on Monday. 🚨 However, ongoing geopolitical tensions in the Middle East could trigger unexpected price spikes, especially during the Asian session. 📈 Trade Plan Buy Zone: 3415 – 3412 Stop Loss: 3405 Take Profit 1: 3444 Take Profit 2: 3482
OANDA:XAUUSDLong
by WavePoint_FX
GOLD PRICES STEADY AHEAD OF US CPI & TRADE TALKSSymbol - XAUUSD CMP - 3324 Gold is currently testing the liquidity zone during the Asian trading session, exhibiting signs of a potential false breakout. While the metal is showing signs of recovery, the broader fundamental backdrop remains uncertain. As of Monday, gold is trading steadily around the 3300 level, supported by a weaker US dollar and cautious sentiment among market participants ahead of upcoming US-China discussions and the release of US Consumer Price Index (CPI) data scheduled for Wednesday. Robust Non-Farm Payroll (NFP) figures for May have strengthened the dollar and diminished expectations for a near term FED rate cut. Nonetheless, ongoing domestic challenges in the US are exerting downward pressure on the currency. Investors are repositioning ahead of the CPI release. From a technical standpoint, the trend remains bullish. Although the price previously breached structural support, it has rebounded during the Asian session following a false breakdown of both the order block and the 3300 liquidity zone. Price action in the near term will be influenced by the 3300–3335 range. Resistance levels: 3325, 3343, 3375 Support levels: 3303, 3275 Gold appears to be approaching the 3325–3335 zone for a potential retest. Should the dollar continue to weaken and gold sustain a move above the 3340 level, the bullish momentum may persist. However, caution is warranted-a false breakout within the 3325–3335 area could signal a breakdown of the bullish structure and result in a renewed downward move.
OANDA:XAUUSDShort
by akshit_official
1
XAU/USD Price Action Analysis – June 12, 2025 XAU/USD Price Action Analysis – June 12, 2025 🪙📈 📊 Technical Overview: The chart presents a clear range-bound market structure with well-defined zones of support and resistance: 📍 Key Levels: 🔴 Resistance Zone: $3,380 – $3,400 Price has been rejected multiple times from this level, as indicated by red arrows. It marks a strong supply zone. 🟢 Support Zone: $3,280 – $3,300 Price has bounced several times from this demand area, forming a reliable support base. 📏 Intermediate Level: $3,319.38 Marked with a purple line, this is likely a mid-range liquidity zone or a previous minor structure level. 🔄 Price Action Insights: Double Bottom Formation: Notable at the support zone, confirming strong buying interest (highlighted with orange circles and green arrows). This pattern often signals a bullish reversal. Current Price: Trading near $3,375.645, approaching the resistance area again. Projected Scenarios: Bullish Continuation 📈: Break and close above the resistance could trigger momentum to the upside — watch for a breakout with strong volume. Pullback Scenario 🔁: A rejection from resistance could cause a retest of $3,319.38 or even the support zone, forming a higher low before a potential rally. 🧠 Strategy Outlook: Bullish Bias 🐂 as long as price holds above $3,319.38. Watch for Breakout 🚀 above resistance with volume confirmation for long entries. Caution ⚠️ near resistance; ideal to wait for either a breakout or clear rejection. 📌 Conclusion: The chart reflects accumulation within a range, with bullish structure emerging. A break above $3,400 could shift market sentiment decisively upward, while a failure at resistance invites a deeper pullback.
OANDA:XAUUSDLong
by MrStellanSight
Elliott Wave Analysis – XAUUSD (June 12, 2025)📊 Elliott Wave Analysis – XAUUSD (June 12, 2025) 🌀 Wave Structure According to yesterday's plan, the green abc corrective wave likely completed around the 3293 level. The subsequent bullish move is considered Wave 1 in a triangle form, and last night’s news helped Wave 5 hit the target, yielding over 200 pips in profit. After that, price corrected in a black abc structure. Although the CPI release printed a sharp H1 wick (alongside overlapping waves supporting sellers), the price reversed sharply to the upside — further reinforcing the idea that the correction phase has ended. Currently, price is testing the previous green Wave b high at 3375.954. A break and close above this level could strengthen the bullish wave scenario. If Wave 1 is indeed a triangle, Wave 3 may extend strongly, with a potential upside target near 3428. In the short term, price may be forming Wave 1 within Wave 3, and we are watching two key zones: 3358 – 3355 3390 – 3393 ⚠️ If price breaks and closes below 3350, the current wave count will be invalidated, and we will shift to a deeper corrective scenario. I will update accordingly to avoid confusion. 🔍 Momentum Outlook D1: Momentum is rising, supporting the continuation of Wave 3 into next week. H4: Still bullish; needs 1–2 more candles to reach the overbought zone. H1: Currently overbought → possible pullback if price hits the 3390–3393 resistance. ⏱️ Bearish momentum reversal at 3390–3393 → confluence zone for a SELL setup ⏱️ Bullish momentum reversal at 3358–3355 → confluence zone for a BUY setup 🎯 Trading Plan BUY ZONE: 3358 – 3355 SL: 3348 TP1: 3375 | TP2: 3389 SELL ZONE: 3390 – 3393 SL: 3404 TP1: 3375 | TP2: 3358
OANDA:XAUUSD
by WavePoint_FX
1
Elliott Wave Analysis – XAUUSD | June 11, 2025 📊 Elliott Wave Structure – H1 Outlook Currently, the price is moving sideways within a channel. 🔍 Wave Structure Analysis: Looking closely at the wave patterns inside this price channel, we can clearly see a series of 3-wave structures developing. Previously, we also observed what appears to be an abc corrective pattern (black), which leads me to suspect that we might be forming a triangle structure as the beginning of a wave 1 sequence (12345 in green). It seems that wave 4 has already completed, and the price is currently in wave 5. Structurally, wave 5 may take the form of a 3-wave move, and the key confirmation we want to see is a break above 3349, signaling that the top of wave 5 is in place. ☄️ Typically, once a wave 1 triangle completes, the market tends to enter a sharp and deep corrective move in the form of a zigzag. 🎯 Potential Target Zones (based on Fibonacci + Volume Profile): Target Zone 1: 3352 – 3355 Target Zone 2: 3362 – 3365 ⚡ Momentum Outlook: D1 Momentum: Starting to turn bullish, suggesting the current correction is nearing completion and we could see a bullish week ahead. H4 Momentum: Currently in overbought territory – I expect the price to break above 3349, followed by a momentum reversal on H4, which could provide a great SELL opportunity at the upper targets. H1 Momentum: Is about to turn bearish, indicating a short-term pullback may occur. If this correction fails to break below 3315, the price may be completing wave 5 as a 3-wave structure. In that case, we should wait for H1 momentum to turn bullish and then bearish again to confirm wave 5 completion. 📌 Trading Plan: 🔻 SELL Zone: 3352 – 3355 ⛔ Stop Loss: 3369 🎯 TP1: 3334 🎯 TP2: 3307
OANDA:XAUUSDShort
by WavePoint_FX
Elliott Wave Analysis – Trading Strategy Update | June 10, 2025 📊 Elliott Wave Analysis – Trading Strategy Update | June 10, 2025 Currently, the market is presenting multiple wave scenarios with nearly equal probabilities. To avoid noise and gain clarity, we are shifting our analysis to the H4 timeframe. 🔹 Key Price Zone As highlighted in yesterday’s update, the 3340 level remains a critical resistance. Price failed to break above this level and has since pulled back to 3307. 🔹 Momentum & Volume Profile - H4 Momentum: Just one more H4 candle and the momentum indicator will likely enter the oversold zone, suggesting that the bearish momentum is weakening. - Volume Profile: Price is clearly reacting at the green POC zone, with no signs of a breakdown yet. 🧩 Two Main Scenarios: Scenario 1: Wave 5 Continues Lower Price is potentially forming wave 5, with: 🎯 Target 1: 3290 🎯 Target 2: 3279 ✅ Confirmation: Break below 3294 ⚠️ Note: This is the most obvious scenario, and in trading, what’s most obvious often requires the most caution. Scenario 2: Correction Completed – Wave 3 Uptrend Forming - The black ABC correction has likely completed. - The recent upward move could be wave 1; the current pullback is wave 2. - Wave 3 is expected next. ✅ Necessary Condition: Price breaks above 3340 ✅ Sufficient Condition: Price breaks the top of wave b (black) ➡️ For this scenario, limit orders may not be effective — real-time confirmation will be required. 📉 Momentum Overview: - D1 Timeframe: Approaching oversold territory — likely to see a recovery over the next 5–7 daily candles. - H4 Timeframe: Also nearing oversold — an intraday bounce is expected today. 🎯 Trading Plan: 🔵 Buy Zone 1: Entry: 3292 – 3289 Stop Loss: 3282 TP1: 3306 TP2: 3340 TP3: 3375 🔵 Buy Zone 2: Entry: 3281 – 3279 Stop Loss: 3271 TP1: 3307 TP2: 3340 TP3: 3375
OANDA:XAUUSDLong
by WavePoint_FX
Elliott Wave Analysis – XAUUSD Trading Plan 5/6/2025 🌀 Current Wave Structure On the H1 timeframe, price action is currently overlapping — a sign that the corrective phase may not be over yet. If the correction had indeed ended at 3334, we would expect a sharper and more impulsive rally typical of wave 3 (green) within wave 3 (black). The lack of that strong momentum suggests the correction could still be unfolding. Both wave a and wave b (red) are showing 3-wave structures, which points to the development of a Flat correction in the red abc pattern. Within wave b (red), we’re currently seeing a smaller abc structure (green), with price likely forming wave c (green) right now. 🎯 Target Zones Wave c (green) target zone: 3390–3393, which is our ideal Sell zone. If price reverses from this zone, we expect wave c (red) to complete somewhere between 3334–3324. ⚡️ Momentum Outlook D1 timeframe: Momentum is starting to turn bearish. A confirmation will depend on how today’s daily candle closes. Until then, short-term upside is still possible. H4 timeframe: Momentum has already turned bearish, supporting the case for a potential wave C (red) to unfold. H1 timeframe: Currently oversold, which opens the door for a minor push up or some sideways action to finish wave c (green). 📌 Trade Setup 🔻 SELL Zone: Entry: 3390 – 3393 Stop Loss (SL): 3400 Take Profit (TP1): 3370 Take Profit (TP2): 3357 🔺 BUY Zone: Entry: 3334 – 3331 Stop Loss (SL): 3322 Take Profit (TP1): 3357 Take Profit (TP2): 3393 Take Profit (TP3): 3410
OANDA:XAUUSDLong
by WavePoint_FX
Gold on it’s target - Next Move BullishOur yesterday analysis went TRUE . As expected after reaching high gold came down for correction. As you all know today there is PMI news today, so market will come down and after that take upward momentum. So do wait for it and after that execute the trade. Key point. Support - 3348, 3335, 3329 Resistance - 3354, 3362, 3371 Any Query Reach Us or comment down Rudra Vasaikar Wishes You A Great And Very Amazing Trading Life. Trade Safe, Trade Right. RISK WARNING 🔴 🔴 🔴 There is high risk of loss in Trading Forex, Crypto, Indices, CFDs, Features and Stocks. Choose your trade wisely and confidently, please see if such trading is appropriate for you or not. Past performance is not indicative of future results. Highly recommended - Information provided by Pro Trading Point are for Educational purpose only. Do your investment according to your own risk. Any type of loss is not our responsibility. HAPPY TRADING. #gold #xauusd #xauusdtrading #goldtrading #goldanalysis #forextrading #forex #trendline #goldsignals #goldnews goldlatestanalysis #xauusdtradesetup #forextradingguide #fxgold
TVC:GOLDLong
by rudravasaikarrr
Elliott Wave Analysis – XAUUSD Trading Plan | June 2, 2025 🌀 Current Wave Structure On the H1 timeframe, wave 2 (black) appears to have completed as a zigzag pattern, with price reacting strongly after touching the 3272 level — signaling that the abc corrective wave (green) may be finished. Zooming into the M10 timeframe, the recent rally shows a 5-wave leading diagonal, indicating that wave 1 (red) is complete. Currently, price is in the pullback phase of wave 2 (red). 📍 The ideal correction zone for wave 2 (red) is around 3281, which is our key area to look for Buy opportunities. However, if price breaks below 3272, this wave count becomes invalid, and we’ll wait for a new setup aligned with deeper correction. 🔋 Momentum Outlook • D1: Momentum is preparing to turn bullish ⇒ supports the start of wave 3 (black) and a bullish outlook for the week • H4: Momentum is bottoming and about to reverse ⇒ supports wave 3 (red) forming in upcoming sessions • H1: Currently declining ⇒ expect early-session pullback. Watch for bullish reversal signals as long as 3272 holds for potential entries ✅ Trade Setup 🎯 BUY ZONE: 3282 – 3279 🛑 Stop Loss: 3272 🎯 Take Profits: • TP1: 3308 • TP2: 3324 • TP3: 3346 ⏳ Note: Price action around the 3272–3281 zone will be key to confirming whether wave 2 (red) is complete. If confirmed, wave 3 could begin with strong momentum — especially after breaking above 3296.
OANDA:XAUUSDLong
by WavePoint_FX
Elliott Wave Analysis – XAUUSD H1 30/05/2025 🔍 Wave Structure Update As of now, price has broken above the X wave high and is undergoing a retracement. This is a positive signal, suggesting that Wave 1 (black) of the larger green impulsive wave may have completed. Currently, price is likely in Wave 2 (black) – offering a good opportunity to position for the upcoming Wave iii (green). Within Wave 2, we expect classic corrective structures such as zigzag or flat to form. Based on current price action, a short-term bounce followed by another leg down is anticipated to complete the corrective phase. 🎯 Potential Wave 2 Target Zones • Target 1: 3290 • Target 2: 3272 ❗ If price drops further to 3245, the assumption that Wave 2 has ended may be invalid. In that case, the broader correction could continue toward 3215 (Wave Y target). 📈 Momentum Outlook D1 Chart: Momentum shows signs of reversal to the upside – supporting a bullish bias for the coming week. H4 Chart: Momentum is weakening, suggesting price may move sideways or pull back today as part of Wave 2 development. H1 Chart: Currently oversold, indicating a likely short-term bounce or sideways movement to maintain this oversold condition until H4 also reaches oversold. 🧭 Trading Plan 🔹 Scalp Buy • Entry: 3291 – 3289 • SL: 3286 • TP1: 3306 • TP2: 3324 • TP3: 3346 🔹 Main Buy Zone • Entry: 3272 – 3269 • SL: 3262 • TP1: 3290 • TP2: 3324 • TP3: 3373
OANDA:XAUUSDLong
by WavePoint_FX
2
Elliott Wave Analysis – XAUUSD H1 Timeframe 29/05/2025🔍 Current Wave Structure Price is currently correcting within a WXY structure, also known as a double zigzag. At the moment, the market is progressing through wave Y, with two potential targets: 🎯 Target 1: 3245 – already reached, and price has bounced sharply from this zone. 🎯 Target 2: 3215 – a deeper target, requiring further confirmation from price action and real-time momentum. 📈 If wave Y has already ended at 3245, the market may now be in wave 1 of a new bullish cycle. Once wave 1 completes, we’ll look for wave 2, which typically offers a prime entry point for wave 3. 👉 Wave 2 often forms as a zigzag or flat correction. Using Fibonacci confluence and liquidity zones, the potential wave 2 pullback area is 3265 – 3262. ⚡️ Momentum Outlook 🕯 D1: Momentum is entering oversold territory → high probability of bullish reversal today or tomorrow. 🕯 H4: Reversal setup is forming; current H4 candle closes in just over an hour → watch for confirmation. 🕯 H1: Momentum is rising. Wait for a pullback in H1, followed by renewed bullish momentum without breaking below 3245 — that’s likely the end of wave 2 and the entry point for wave 3. 📌 Important Note: If H4 momentum reverses downward and price fails to break above 3324, it could signal a continuation of the broader downtrend, with 3215 remaining as the next wave Y target. 🛒 Trade Setu p BUY ZONE: 3265 – 3262 Stop Loss: 3255 Take Profits: • TP1: 3290 • TP2: 3324 • TP3: 3346 ❗️ If price breaks below 3245, it would confirm that wave Y is still in progress. In that case, monitor the 3215 zone for a new buying opportunity.
OANDA:XAUUSDLong
by WavePoint_FX
Elliott Wave Analysis – XAUUSD Trading Plan – 28th May 2025 🔍 Current Wave Structure After a sharp drop yesterday, price has mildly recovered and is now consolidating around the 3314 zone. The correction has nearly reached the target of wave C (green). However, the current rebound is weak, marked by small, overlapping H1 candles — suggesting the bullish structure is not yet convincing. At this point, we’re tracking two main scenarios: ✅ Scenario 1 – Correction Completed Wave C seems complete, and price might be starting a new bullish trend. That said, the overlapping candles on H1 could also indicate the formation of a leading diagonal for wave 1. In this case, wave 2 is likely to be a strong retracement — typically forming as a zigzag or flat correction. 📌 Strategy: Wait for wave 2 to complete before looking for a better buy opportunity. 🌀 Scenario 2 – Correction Still in Progress If the price continues to move slowly or goes sideways, we could be in wave b of a double zigzag correction (wave Y). 🎯 Wave c within wave Y may target 3324. However, if price breaks below 3284 before hitting 3324, it would likely mean wave c has started, with an expected end near 3280–3274. 📈 Momentum Outlook D1: Momentum remains bearish ⇒ primary trend still points downward. H4: Momentum is currently rising ⇒ we may see a temporary recovery today. H1: Approaching oversold ⇒ if reversal signals appear, short-term buy setups may emerge. 🎯 Trade Plan for Today (28/05/2025) 🔹 Buy Scalp Entry: 3292 – 3289 SL: 3282 TP1: 3313 TP2: 3324 🔹 Buy Swing Entry: 3280 – 3277 SL: 3270 TP1: 3290 TP2: 3313 TP3: 3324 🕰️ Expected timing: From London session through New York close 🔸 Sell Zone Entry: 3324 – 3327 SL: 3334 TP1: 3313 TP2: 3290 TP3: 3280 🕰️ Ideal entry: If price hits resistance during US session or late London 📌 All scenarios will be updated as soon as wave 2 completes or if price clearly breaks below 3284. Be patient — let the market confirm before taking action.
OANDA:XAUUSDLong
by WavePoint_FX
1