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
