📊
________________________________________
🔍 Momentum Analysis:
• D1 Timeframe:
Momentum has entered the overbought zone. As anticipated in previous plans, we've seen four consecutive bullish days, and the current overbought condition signals that bullish momentum is weakening.
• H4 Timeframe:
Momentum is reversing downward → We expect a potential pullback today, at least until the US session.
• H1 Timeframe:
Momentum is also turning down → This supports the possibility of a short-term pullback on the H1 chart.
________________________________________
🌀 Wave Structure Analysis:
Currently, there are two key scenarios to consider:
✅ Scenario 1 – ABC Correction Structure (black labels):
• If this is a C wave completing an ABC correction, the current bullish move is likely over.
• In this case, price may break below the 3315 support zone, resuming the medium-term bearish trend.
✅ Scenario 2 – Impulse Wave 12345 (black labels):
• If this is wave 5 of a 5-wave impulse, the uptrend may not be complete yet.
• Currently, wave 5 has reached its first target at 3385, however, we must still watch for an extended target around 3402.
• Notably, wave 4 took the form of a triangle. According to Elliott Wave theory, when wave 4 is a triangle, wave 5 typically travels a distance equal to the triangle’s maximum height → This makes 3385 a highly probable peak area.
________________________________________
🧭 Trade Plan (Reference Only):
🔹 Sell Setup #1 – Near Potential Wave 5 Top:
• Sell Zone: 3375 – 3378
• Stop Loss: 3387
• TP1: 3365
• TP2: 3344
• TP3: 3333
🔹 Sell Setup #2 – In Case of Extended Wave 5:
• Sell Zone: 3400 – 3402
• Stop Loss: 3410
• TP1: 3385
• TP2: 3368
• TP3: 3333
________________________________________
🔍 Momentum Analysis:
• D1 Timeframe:
Momentum has entered the overbought zone. As anticipated in previous plans, we've seen four consecutive bullish days, and the current overbought condition signals that bullish momentum is weakening.
• H4 Timeframe:
Momentum is reversing downward → We expect a potential pullback today, at least until the US session.
• H1 Timeframe:
Momentum is also turning down → This supports the possibility of a short-term pullback on the H1 chart.
________________________________________
🌀 Wave Structure Analysis:
Currently, there are two key scenarios to consider:
✅ Scenario 1 – ABC Correction Structure (black labels):
• If this is a C wave completing an ABC correction, the current bullish move is likely over.
• In this case, price may break below the 3315 support zone, resuming the medium-term bearish trend.
✅ Scenario 2 – Impulse Wave 12345 (black labels):
• If this is wave 5 of a 5-wave impulse, the uptrend may not be complete yet.
• Currently, wave 5 has reached its first target at 3385, however, we must still watch for an extended target around 3402.
• Notably, wave 4 took the form of a triangle. According to Elliott Wave theory, when wave 4 is a triangle, wave 5 typically travels a distance equal to the triangle’s maximum height → This makes 3385 a highly probable peak area.
________________________________________
🧭 Trade Plan (Reference Only):
🔹 Sell Setup #1 – Near Potential Wave 5 Top:
• Sell Zone: 3375 – 3378
• Stop Loss: 3387
• TP1: 3365
• TP2: 3344
• TP3: 3333
🔹 Sell Setup #2 – In Case of Extended Wave 5:
• Sell Zone: 3400 – 3402
• Stop Loss: 3410
• TP1: 3385
• TP2: 3368
• TP3: 3333
Trade active
+ 100 pips Entry Sell 3375 - 3378Trade closed: target reached
+ 200 Pips Entry Sell 3375 - 3378Note
📊 Elliott Wave Analysis – XAUUSD Update________________________________________
🌀 Wave Structure Analysis:
Looking at the chart, a corrective abc structure has just completed. The recent drop retraced back to the previous wave 4 area, indicating that this was likely a classic 3-wave correction.
This opens the possibility that we are now entering wave 5 (black). Based on the end of wave 4 (black), we can identify two potential targets for the current wave 5:
• 🎯 Primary target: around 3402
• 🎯 Extended target: around 3419
________________________________________
🔍 Momentum Analysis:
• D1 Timeframe:
Momentum is currently in the overbought zone, suggesting that upward strength may not last much longer on the daily timeframe.
• H4 Timeframe:
About 2 hours remain before the current H4 candle closes. If price holds near current levels, there is a high probability it will break above 3385, aiming for:
→ The 3402 target,
→ and possibly even the extended 3419 zone.
________________________________________
✅ Conclusion:
If price maintains above 3385 in the upcoming H4 candles, this would reinforce the likelihood of wave 5 continuing toward the 3402 and potentially 3419 targets.
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👉 Join the channel to receive more scalping signals!
Channel Telegram: t.me/+XkFQ95yHVOEwNDc1
Channel Telegram: t.me/+XkFQ95yHVOEwNDc1
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.