On the 1H timeframe, Gold appears to have formed a five-wave structure downward. At this stage, I expect a corrective upward movement, possibly taking the form of a Zigzag (ABC)—though the actual shape of the correction remains uncertain. It’s important to approach the market with probabilistic thinking rather than trying to predict exact outcomes. Let price action guide your decisions.
Key correction zones to watch:
• Previous wave 4 area: ~3031
• Fibonacci retracement zone (50–61.8%): ~3063–3088
Only after the correction structure is complete—and confirmed—will it be reasonable to consider short positions, with a potential target near 2860.
Stay flexible and reactive, the market leads, and we follow.
Key correction zones to watch:
• Previous wave 4 area: ~3031
• Fibonacci retracement zone (50–61.8%): ~3063–3088
Only after the correction structure is complete—and confirmed—will it be reasonable to consider short positions, with a potential target near 2860.
Stay flexible and reactive, the market leads, and we follow.
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.
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.