XAUUSD PLAN – JUNE 3RD | WAVE 3 PEAK OR SETUP FOR A NEW RALLY?
After a massive $100 rally at the start of the week, gold has begun to pull back — dropping over $30 during the Asia session today. This is likely the end of Wave 3 (the strongest impulse in a 5-wave Elliott structure), as investors lock in profits and await key macro events.
🌍 MACRO & FUNDAMENTAL CONTEXT
A high-stakes call between Trump and Xi Jinping is expected this week, which could reshape short-term trade sentiment.
Investors are moving into cash positions, taking profits after Monday’s surge, and waiting for direction from the upcoming US-China negotiations.
Macro themes remain supportive for volatility: tariff risks, inflation worries, and geopolitical uncertainty.
📉 TECHNICAL OUTLOOK – H2 / H4 / D1
On the higher timeframes (H4 and D1), gold maintains a bullish structure, with EMAs aligned for upside continuation.
On intraday charts (M30–H1), we’re seeing a clean correction, likely to fill the Fair Value Gap (FVG) zone below.
The key BUY zone at 3320–3310 will decide direction:
If it holds: strong long setups.
If it breaks: possible structure shift and deeper downside.
🔑 KEY LEVELS TO WATCH
🟢 BUY ZONE: 3320 – 3318
SL: 3314
TP: 3324 → 3328 → 3332 → 3336 → 3340 → 3344 → 3350 → 3360 → ???
🔴 SELL ZONE: 3388 – 3390
SL: 3394
TP: 3384 → 3380 → 3376 → 3370 → 3366 → 3360 → 3350
📌 FINAL THOUGHTS
“Gold is in a healthy correction after a massive surge. The 3310–3320 zone is crucial. Hold it, and bulls may take over again — break it, and we may see a deeper pullback."
⚠️ Stay cautious ahead of political headlines. Any remarks from the Trump–Xi call could spark aggressive price action.
After a massive $100 rally at the start of the week, gold has begun to pull back — dropping over $30 during the Asia session today. This is likely the end of Wave 3 (the strongest impulse in a 5-wave Elliott structure), as investors lock in profits and await key macro events.
🌍 MACRO & FUNDAMENTAL CONTEXT
A high-stakes call between Trump and Xi Jinping is expected this week, which could reshape short-term trade sentiment.
Investors are moving into cash positions, taking profits after Monday’s surge, and waiting for direction from the upcoming US-China negotiations.
Macro themes remain supportive for volatility: tariff risks, inflation worries, and geopolitical uncertainty.
📉 TECHNICAL OUTLOOK – H2 / H4 / D1
On the higher timeframes (H4 and D1), gold maintains a bullish structure, with EMAs aligned for upside continuation.
On intraday charts (M30–H1), we’re seeing a clean correction, likely to fill the Fair Value Gap (FVG) zone below.
The key BUY zone at 3320–3310 will decide direction:
If it holds: strong long setups.
If it breaks: possible structure shift and deeper downside.
🔑 KEY LEVELS TO WATCH
🟢 BUY ZONE: 3320 – 3318
SL: 3314
TP: 3324 → 3328 → 3332 → 3336 → 3340 → 3344 → 3350 → 3360 → ???
🔴 SELL ZONE: 3388 – 3390
SL: 3394
TP: 3384 → 3380 → 3376 → 3370 → 3366 → 3360 → 3350
📌 FINAL THOUGHTS
“Gold is in a healthy correction after a massive surge. The 3310–3320 zone is crucial. Hold it, and bulls may take over again — break it, and we may see a deeper pullback."
⚠️ Stay cautious ahead of political headlines. Any remarks from the Trump–Xi call could spark aggressive price action.
⚜️ Trade with Money Market Flow, logic, Price action 📉📈
⚜️Risk Reward 1.3 to 2.5...
⚜️Daily 8 to 15 Signals Vip
⚜️Risk Reward 1.3 to 2.5...
⚜️Daily 8 to 15 Signals Vip
Related publications
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.
⚜️ Trade with Money Market Flow, logic, Price action 📉📈
⚜️Risk Reward 1.3 to 2.5...
⚜️Daily 8 to 15 Signals Vip
⚜️Risk Reward 1.3 to 2.5...
⚜️Daily 8 to 15 Signals Vip
Related publications
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.