Elliott Wave Analysis – XAUUSD | August 7, 2025📊
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🔍 Momentum Analysis:
• D1 Timeframe: Daily momentum is turning bearish, signaling that a medium-term downtrend may have already started and could last until mid-next week.
• H4 Timeframe: Momentum is rising, but the slope of the two momentum lines is relatively flat → indicating weak bullish strength. We should closely watch the overhead resistance zones.
• H1 Timeframe: Momentum has entered the overbought zone → a short-term reversal is likely, especially near the 3386 level.
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🌀 Elliott Wave Structure:
• Based on the bearish momentum shift on the D1 chart, we expect the market is entering an ABC corrective pattern (in green).
• Currently:
o Wave A is completed.
o Wave B is in progress.
• Since Wave A appears to be a 3-wave structure, Wave B may unfold as a flat correction. In that case, potential target zones for Wave B are:
o 3385
o or 3395 → these are the key resistance levels to monitor.
• Within Wave B (green), we observe an internal 3-wave ABC structure (in red), where:
o Wave C (red) may reach:
3386
or extend toward 3395
→ In alignment with the D1 momentum signal, 3386 is considered a potential entry point for a short position.
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📈 Trade Plan:
• SELL Zone: 3386 – 3389
• Stop Loss: 3397
• Take Profits:
o TP1: 3370
o TP2: 3353
o TP3: 3333
