🔍 Current Wave Structure
Following yesterday’s sharp decline, price has made a mild recovery and is currently consolidating around the 3314 area. The drop has nearly reached the projected wave C (green) target, but the current rebound — with overlapping small H1 candles — suggests the bullish structure is still unconvincing.
We’re now monitoring two potential scenarios:
✅ Scenario 1 – Correction Completed
Wave C appears to be complete, and the market may be entering a new bullish trend.
However, the overlapping candles on H1 hint that this could be a leading diagonal (wave 1).
In this case, a deeper pullback (wave 2) is expected — likely forming a zigzag or flat correction.
📌 Strategy:
Wait for wave 2 to complete before looking for a better Buy entry.
🌀 Scenario 2 – Ongoing Correction
If price continues to move sideways, we may be in wave b of a double zigzag correction (wave Y).
🎯 Wave c target within wave Y: 3324
If price breaks below 3284 before reaching 3324, wave c may have already started and could complete around 3280–3274.
📈 Momentum Outlook
• Daily (D1): Momentum remains bearish → primary trend still leans downward
• H4: Bullish momentum → short-term recovery possible today
• H1: Near oversold → watch for bullish reversal signals in current zone for intraday Buy setups
🎯 Trade Plan
⏰ Intraday Buy (Scalp):
• Entry: 3292 – 3289
• SL: 3282
• TP1: 3313
• TP2: 3324
🕰️ Ideal timing: During the London session to end of New York session
🎯 Swing Buy Setup:
• Entry: 3280 – 3277
• SL: 3270
• TP1: 3290
• TP2: 3313
• TP3: 3324
🕰️ Ideal timing: European to late US session
🎯 Sell Zone: 3324 – 3327
• SL: 3334
• TP1: 3313
• TP2: 3290
• TP3: 3280
🕰️ Best considered if price reaches resistance during US session or late EU session
📌 All scenarios will be updated once wave 2 is confirmed or price decisively breaks below 3284.
Be patient — let the market give you clear signals before taking action.
Trade active
🕵️♂️ H4 Chart Observation – XAUUSDOn the H4 timeframe, we’re seeing bullish candles with short bodies, indicating a lack of strong momentum behind the move.
📈 H4 momentum is approaching overbought territory —
If the current candle closes and the next one follows through, we could start seeing signs of a potential bearish reversal.
🔍 Our plan:
Keep monitoring H4 momentum. Once it enters the overbought zone, we’ll shift to the H1 timeframe to look for Sell setups with confirmation.
Trade closed: target reached
170 pips Entry Sell: 3324 – 3327Note
270 pips Entry Sell: 3324 – 3327 Full TP2
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Disclaimer
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👉 Join the channel to receive more scalping signals!
Channel Telegram: t.me/+XkFQ95yHVOEwNDc1
Channel Telegram: t.me/+XkFQ95yHVOEwNDc1
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.