XAUUSD Still Rising?
I wanted to share my latest analysis on XAU/USD based on recent price action and wave structure.
Weekly Timeframe:
The overall trend remains bullish, starting from the lows of 1600. This marks the beginning of Cycle Wave 3. We completed Primary Waves 1, 2, and 3 at the all-time high (ATH) and are now in a corrective Primary Wave 4 phase.
Daily Timeframe:
It appears that the 3-swing correction at 2540 could signify the end of Primary Wave 4. If this is the case, XAU may now be entering the early stages of Primary Wave 5.
1-Hour Timeframe:
A deeper dive into the 1-hour chart shows a 5-wave impulse from the 2540 low to 2720, suggesting this could be Intermediate Wave 1. Following this, there has been a 3-wave correction down to 2625. If this pattern holds, we can expect gold to regain momentum soon.
Let me know if you have any thoughts or would like to discuss this further.
Weekly Timeframe:
The overall trend remains bullish, starting from the lows of 1600. This marks the beginning of Cycle Wave 3. We completed Primary Waves 1, 2, and 3 at the all-time high (ATH) and are now in a corrective Primary Wave 4 phase.
Daily Timeframe:
It appears that the 3-swing correction at 2540 could signify the end of Primary Wave 4. If this is the case, XAU may now be entering the early stages of Primary Wave 5.
1-Hour Timeframe:
A deeper dive into the 1-hour chart shows a 5-wave impulse from the 2540 low to 2720, suggesting this could be Intermediate Wave 1. Following this, there has been a 3-wave correction down to 2625. If this pattern holds, we can expect gold to regain momentum soon.
Let me know if you have any thoughts or would like to discuss this further.
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