📈 Elliott Wave Analysis on XAUUSD – Is Gold Ready for Its Final Rally? 💥
On the daily chart of XAUUSD, we’re observing the completion of a wave 4 triangle correction (ABCDE), which seems to be setting the stage for the beginning of wave 5 in the larger bullish cycle.
✅ Wave 3 showed a strong impulsive structure, and now the wave 4 triangle suggests consolidation before an explosive breakout toward the $3900 zone.
📍Key Resistance: 3900
🌀 We're anticipating a breakout above the upper channel line, potentially launching a sharp move as wave 5 unfolds.
💬 Share your thoughts in the comments! Do you think gold is ready to break its all-time high?
🔥 Save this idea & follow for future updates!
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🚀 Who am I?
I'm Mahdi, a prop firm trader with 7+ years of experience in technical analysis, mainly focusing on Smart Money Concepts and Elliott Wave theory.
I specialize in delivering high-quality trading signals, market insights, and educational content tailored for serious traders and investors.
📊 My Tools: SMC, Elliott Wave, Fibonacci, Liquidity Grabs, Order Blocks
💼 Prop Challenge Passed: Yes | Funded Account: In Progress
🔗 Follow for consistent updates and trading insights.
On the daily chart of XAUUSD, we’re observing the completion of a wave 4 triangle correction (ABCDE), which seems to be setting the stage for the beginning of wave 5 in the larger bullish cycle.
✅ Wave 3 showed a strong impulsive structure, and now the wave 4 triangle suggests consolidation before an explosive breakout toward the $3900 zone.
📍Key Resistance: 3900
🌀 We're anticipating a breakout above the upper channel line, potentially launching a sharp move as wave 5 unfolds.
💬 Share your thoughts in the comments! Do you think gold is ready to break its all-time high?
🔥 Save this idea & follow for future updates!
------------------------------------------------------------------------------------------------------
🚀 Who am I?
I'm Mahdi, a prop firm trader with 7+ years of experience in technical analysis, mainly focusing on Smart Money Concepts and Elliott Wave theory.
I specialize in delivering high-quality trading signals, market insights, and educational content tailored for serious traders and investors.
📊 My Tools: SMC, Elliott Wave, Fibonacci, Liquidity Grabs, Order Blocks
💼 Prop Challenge Passed: Yes | Funded Account: In Progress
🔗 Follow for consistent updates and trading insights.
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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.