Wave 3 Completion: The chart suggests that Gold has completed its Wave 3, marked by a strong bullish impulse.
Wave 4 Correction Expected: A corrective decline (Wave 4) is projected, targeting the 2,200 - 2,300 USD support zone. This aligns with typical Elliott Wave structures, where Wave 4 retraces a portion of Wave 3 before resuming the trend.
Potential for Wave 5 Rally: After Wave 4 finds support, a strong Wave 5 rally is expected, potentially pushing Gold beyond 3,200 USD.
📢 Trading Considerations:
Traders should wait for Wave 4 completion and look for buy confirmation around the 2,300 - 2,400 USD zone before entering long positions.
Fibonacci retracement levels and price action confirmation can help determine the exact entry point.
💡 Final Thoughts:
Since Elliott Wave analysis evolves with price action, it’s essential to monitor the market closely and validate the expected movements. If Wave 4 unfolds as anticipated, it could present a great long-term buying opportunity.
Wave 4 Correction Expected: A corrective decline (Wave 4) is projected, targeting the 2,200 - 2,300 USD support zone. This aligns with typical Elliott Wave structures, where Wave 4 retraces a portion of Wave 3 before resuming the trend.
Potential for Wave 5 Rally: After Wave 4 finds support, a strong Wave 5 rally is expected, potentially pushing Gold beyond 3,200 USD.
📢 Trading Considerations:
Traders should wait for Wave 4 completion and look for buy confirmation around the 2,300 - 2,400 USD zone before entering long positions.
Fibonacci retracement levels and price action confirmation can help determine the exact entry point.
💡 Final Thoughts:
Since Elliott Wave analysis evolves with price action, it’s essential to monitor the market closely and validate the expected movements. If Wave 4 unfolds as anticipated, it could present a great long-term buying opportunity.
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.