Gold H1 – End of Wave 5: Is a Corrective ABC Coming?⚡ XAUUSD – Elliott Wave Intraday Outlook | 11/11
📈 Elliott Wave Context
Gold has completed a clean 5-wave impulsive structure on the H1 timeframe, with Wave 5 pushing into the premium zone above 4130.
Price now shows early exhaustion at the highs, suggesting the market is preparing to transition into a corrective ABC phase.
A confirmed reversal signal will be:
✅ H1 close below the Wave 2–4 trendline → confirming the start of Wave A.
🔎 Technical Breakdown (Wave Structure)
• Wave 1: Initial rally from 3964
• Wave 2: Shallow pullback near 3985
• Wave 3: Strong impulsive breakout toward 4070+
• Wave 4: Mid-cycle correction holding structure
• Wave 5: Final push topping around 4130–4140 (current swing high)
The 5-wave impulse is now completed → market likely moves into A–B–C correction.
📉 Expected Elliott Wave Path (ABC)
Wave A
• First levels: 4105 (Fibo 0.236)
• Main target zone: 4078 (Fibo 0.382)
Wave B
• Corrective rebound toward
o 4105, or
o 4115–4120
Wave C
• Strongest leg of correction
• Ideal target zones:
o 4035 (Fibo 0.618 retracement of the full 1–5 impulse)
o 4004 (Fibo 0.786 retracement)
• Wave C often ≈ Wave A → aligns with 4035–4004
📌 Intraday Trade Plan (Elliott-Based)
✅ Scenario 1 – SELL the upcoming correction (Preferred)
Entry:
• After H1 candle closes below the 2–4 trendline,
or wait for a Wave B retest into 4105–4120.
Stop Loss:
• Above the Swing High → 4145
Take Profit:
• TP1: 4078
• TP2: 4035
• TP3: 4004
✅ Scenario 2 – BUY only if wave invalidation occurs
If gold breaks and holds above 4145, Wave 5 may be extending.
Entry: above 4145
SL: 4120
TP: 4170–4200
✅ Summary
Gold has finished a textbook 5-wave impulse and is now likely entering a corrective ABC structure.
The highest-probability opportunity today is to sell the Wave B retracement and target deeper corrective zones at 4035–4004.
