Elliott Wave Analysis – XAUUSD Trading Plan – 27th May 2025
📊 Wave Structure – XAUUSD – H1 Timeframe
Price is likely in a corrective phase — wave iv (orange) — after completing five internal green waves within wave iii.
During this correction, we’ve seen an abc zigzag form, followed by an unclear upward bounce. This gives rise to two key scenarios:
🔸 Scenario 1: Wave iv is complete
The abc pattern is finished, and price appears to be forming an initial triangle structure. We could currently be in wave 2.
👉 A breakout and H1 candle close above 3343 would confirm the start of a new uptrend. In this case, prefer buying on dips.
🔸 Scenario 2: Zigzag correction is still ongoing
Wave X seems complete, and price may now be developing wave Y — either as another abc or triangle.
👉 This scenario gets confirmed if price breaks below the wave c (green) low at 3324.
🎯 Wave Y downside targets (based on Fibonacci + Volume Profile):
• Target 1: 3317
• Target 2: 3290
🔍 Momentum Analysis
D1 Momentum has already confirmed bearish → Downside pressure likely to persist through the week.
H4 Momentum is currently rising → Price could see a short-term rally or sideways action today.
H1 Momentum is nearing oversold → We wait for it to flip to overbought. If price fails to break 3349, there may be room for a scalp sell.
However, if 3349 is broken, wave X could extend further — or it might mark the start of a new bullish leg. We’ll reassess accordingly.
📌 Trade Plan
Buy Zone: 3317 – 3314
Stop Loss: 3307
Take Profit 1: 3334
Take Profit 2: 3373
✅ Only execute if H1 momentum shifts bullish.
❗ If this zone breaks, next buy opportunity lies around 3290.
