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Xauusdidea

$3,600 Gold Incoming? The Accumulation Zone Says It All!Gold has been showing textbook price action. After years of testing, the long-term trendline was finally broken and then flipped into solid support, classic breakout-retest behavior. Former resistance zones have consistently turned into support on the way up, confirming bullish strength. Now, price is consolidating in a tight range near all-time highs, this is not weakness, it's accumulation. As long as the structure holds, this looks like a potential launchpad for the next leg higher. Patience pays in gold; accumulation leads to expansion. DYOR, NFA Thanks for Reading!
TVC:GOLDLong
by unichartz
The triangle pattern is about to break through and hit 3400#XAUUSD Although the price of gold was too high last night due to the rise in risk aversion, the upward momentum weakened significantly in the evening, and it fluctuated sideways at a high level. Gold is currently consolidating within a triangle pattern, with a short-term price increase reaching the triangle's boundary. A break above 3385 could lead to significant intraday gains. Meanwhile, the downside is defending short-term support at 3365. As long as this support level remains intact, the bullish trend remains intact. If the European session gives an opportunity to fall back to the 3375-3365 support area without breaking, you can consider going long and look at 3395-3405, and if it breaks, look at 3415.
OANDA:XAUUSDLong
by Halson_Winston
2
8/7: Continue to Focus on SellingGood afternoon, everyone! During today’s session, gold successfully moved into the anticipated resistance zone of 3386–3398, and encountered significant selling pressure near 3398, resulting in a retracement to around 3372. While the price action aligned with prior expectations, the delayed timing has led to a bearish shift in the technical structure, which may hinder further upside momentum for the bulls. That said, important economic data will be released during the US session later today. We’ll need to observe whether bulls can leverage the potential catalyst to break through the current resistance levels. ⚠️ Trading Strategy Recommendation: Regardless of the data outcome, it is advisable to maintain a bearish bias in subsequent trades. From a technical standpoint, the higher the price climbs, the greater the probability of a pullback, making short positions relatively less risky. 📌 Reference Range: Continue to monitor and trade within the key zones outlined yesterday, adjusting entries and exits as per intraday developments.
FOREXCOM:XAUUSDShort
by China_MsWang
Gold (XAU/USD) - 2H Wave Setup + Scalp Opportunities# 🔻 Gold (XAU/USD) - 2H Wave Setup + Scalp Opportunities Ahead **By: Mohsen Mozaffarinezhad** 📅 August 7, 2025 | ⏰ Valid through August 8 (End of NY Session) ⏱ Timeframe: 2H 📌 Method: Elliott Wave + Supply/Demand + SSL Hybrid Confirmation --- ## 🧠 Market Context: Price has completed a **strong bullish leg** and is currently forming a classic **(a)-(b)-(c)** corrective pattern. We are now between **point (b)** and the potential completion of **(c)**. The broader market is expected to **retest the lower demand POI**, possibly before resuming the uptrend. --- ## 🔎 Technical Highlights: - 📉 Bearish correction in progress: (b) → (c) - 📦 Major **Supply** above 3,390 – acted as rejection point - 🟦 Strong **Demand Zone**: 3,345 – 3,320 - 🔁 Price forming a potential **ABC correction** - 🔔 **Point of Interest (POI)** near 3,350 may offer entry confirmation - 💠 **SSL Channel**: Currently bearish crossover - 🔄 **RQQ, HT, MACD, RSI**: Bearish/neutral, waiting for reversal signals - 📊 **Volatility (Vol %ile)**: 67% - 🎯 **ATR**: 13.52 (2H – medium range) - 🧯 **Risk Level:** Normal --- ## 🟢 Scalp Strategy: Scalp traders can take advantage of both micro-swings at **points (a) and (b)** using lower TF (M5/M15) confirmations: ### 🎯 Scalp Buy: - 📍 Entry: Near 3,345–3,350 - 🛑 SL: Below 3,340 - 🎯 TP: 3,365–3,370 (short-term liquidity sweep) - ⚠️ Only on bullish SSL + RSI divergence (M5) ### 🎯 Scalp Sell: - 📍 Entry: Near 3,375–3,380 (**point b rejection**) - 🛑 SL: Above 3,385 - 🎯 TP: 3,360 then 3,350 - ⚠️ Use Heikin-Ashi reversal + SSL confirmation --- ## 📌 Mid-Term Outlook (Swing): If price reaches **point (c)** around the **lower demand zone** and reacts with bullish structure (BOS, CHoCH), we anticipate a strong rally toward: - **TP1:** 3,385 - **TP2:** 3,400 - **TP3:** 3,420 (next macro supply) --- ## ⚠️ Notes: > This setup remains **valid until the end of NY session, August 8**. > Wait for **clear confirmation** before execution. > All scalps are suggested with **tight risk management**. _Analysis by Mohsen Mozaffarinezhad | Educational Purposes Only_ --- #gold #xauusd #elliottwave #supplydemand #sslhybrid #scalping #smartmoney #tradingview #forexanalysis
OANDA:XAUUSDShort
by mmozafari1357
Gold Roadmap — Short termGold ( OANDA:XAUUSD ) rose to $3,383 as I expected in yesterday's idea . Gold is currently moving in the Resistance zone($3,393-$3,366) . In terms of Elliott Wave theory , it seems that Gold has completed 5 impulse waves , and we should wait for corrective waves on the 15-minute time frame . I expect Gold to start declining from one of the Fibonacci levels and fall to at least $3,351 . Second Target: $3,344 Third Target: Monthly Pivot Point/Support lines Note: Stop Loss (SL) = $3,392 Gold Analyze (XAUUSD), 15-minute time frame. Be sure to follow the updated ideas. Do not forget to put a Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post. Please do not forget the ✅ ' like ' ✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
OANDA:XAUUSDShort
by pejman_zwin
22
XAUUSD - 3400Technical picture Bullish momentum is strengthening: US jobs shortage has caused an influx into safe havens, which has contributed to gold's growth A reversal signal is forming: a bounce from the lower line of Bollinger Bands is observed, and a bullish cross of EMA-8 and EMA-21 is also forming, plus a moderately positive MACD - a classic "buy on dip" entry pattern Key levels: Support: around $3,330 - a support zone coinciding with the 21- and 50-day SMAs. Below — potential for decline to $3,297-$3,283 Resistance: $3,380 — resistance, breakout of which could open the way to $3,440-$3,450 Structural pattern: breakout from triangle to the downside could signal a deeper correction Industry consensus: Citi has revised its target range up to $3,300-$3,600 in the next three months, based on a weak US economy and rising geo-risk Meanwhile, HSBC warns of possible weakness — forecast for 2025-2026 from $3,215 to $2,350 in a more bearish scenario
ICMARKETS:XAUUSDLong
by Trade_Hive_Signals
Elliott Wave Analysis – XAUUSD | August 7, 2025📊 ________________________________________ 🔍 Momentum Analysis: • D1 Timeframe: Daily momentum is turning bearish, signaling that a medium-term downtrend may have already started and could last until mid-next week. • H4 Timeframe: Momentum is rising, but the slope of the two momentum lines is relatively flat → indicating weak bullish strength. We should closely watch the overhead resistance zones. • H1 Timeframe: Momentum has entered the overbought zone → a short-term reversal is likely, especially near the 3386 level. ________________________________________ 🌀 Elliott Wave Structure: • Based on the bearish momentum shift on the D1 chart, we expect the market is entering an ABC corrective pattern (in green). • Currently: o Wave A is completed. o Wave B is in progress. • Since Wave A appears to be a 3-wave structure, Wave B may unfold as a flat correction. In that case, potential target zones for Wave B are: o 3385 o or 3395 → these are the key resistance levels to monitor. • Within Wave B (green), we observe an internal 3-wave ABC structure (in red), where: o Wave C (red) may reach:  3386  or extend toward 3395 → In alignment with the D1 momentum signal, 3386 is considered a potential entry point for a short position. ________________________________________ 📈 Trade Plan: • SELL Zone: 3386 – 3389 • Stop Loss: 3397 • Take Profits: o TP1: 3370 o TP2: 3353 o TP3: 3333
OANDA:XAUUSDShort
by WavePoint_FX
Gold (XAU/USD) 4H Institutional Analysis — August 6, 2025As of August 6, 2025 (12:23 UTC), Gold (XAU/USD) is trading around 3,367.60, according to Kitco’s live spot price feed. After a sustained bullish recovery from the 3,320–3,330 demand zone, gold finds itself at a structural inflection point. Institutional footprints across the board — from order blocks to liquidity maps — are signaling one dominant message: the bulls are setting the stage. In today’s breakdown, we deliver a high-conviction execution plan using a fusion of Smart Money Concepts (SMC), ICT methodology, and 4H structural dynamics — isolating only the strongest Primary Buy and Sell zones, along with their fallback counterparts. At the center of this framework is our Golden Zone, the most institutionally-aligned, high-probability area of the day. 🔍 Market Structure & Directional Bias The 4-hour chart has shown a clear Change of Character (CHoCH) to the upside after a bullish Break of Structure (BOS) above the 3,355 level. This signals a phase shift from consolidation into accumulation and potential expansion, likely aiming toward the 3,400 psychological magnet and beyond. The presence of volume imbalances, fair value gaps, and unmitigated order blocks across multiple structural layers further supports a bullish directional bias. Liquidity has been swept below previous equal lows (EQL), creating an environment ripe for institutional accumulation. Directional Bias: Transitional → Bullish 🎯 Primary Execution Zones ✅ Primary Buy Zone (Golden Zone) — 3,355 to 3,360 This zone represents the highest-quality long opportunity on the chart today. Sitting in the discount array (below 50% of recent swing), the zone is built on a fresh Rally-Base-Rally (RBR) demand structure formed after a decisive CHoCH. The 3,355–3,360 range aligns with a valid unmitigated Order Block, an embedded Fair Value Gap, and an OTE retracement between 0.705–0.79 Fib levels. Beneath this zone lies a sweepable liquidity pocket just under 3,350, further increasing the magnetism of the area. Entry: 3,355–3,360 Stop Loss: Below 3,350 (liquidity invalidation) Take Profits: TP1: 3,395–3,400 (1.272 extension) TP2: 3,420 (1.618 extension) Confluences: RBR Demand, OB, FVG, OTE, Volume Imbalance, EQL Sweep, Discount Array, Structural Support Kill Zone Timing: London-NY Overlap ✅ Golden Zone of the Day ✅ Primary Sell Zone — 3,395 to 3,400 While the broader bias is bullish, gold remains capped by a strong Drop-Base-Drop (DBD) supply zone around 3,400 — also the 1.272 fib extension from prior bullish legs. A pocket of equal highs (EQH) just above 3,405 serves as a liquidity magnet and stop-loss hunting zone — making this supply level extremely attractive for short-term reversion plays. Entry: 3,395–3,400 Stop Loss: Above 3,405 Take Profits: TP1: 3,360 TP2: 3,350 Confluences: DBD Supply, OB, FVG, OTE Retrace, EQH Sweep, Premium Array, Structural Resistance ⚠️ Secondary Execution Zones (If Primary Fails) 🟢 Fallback Buy Zone — 3,325 to 3,330 If the market manipulates lower and invalidates the primary buy zone with a deep liquidity sweep, this deeper zone offers a second chance. It contains a secondary demand block, a valid FVG, and lies cleanly within a deep discount retracement. SL: Below 3,320 TPs: 3,360 and 3,380 🔴 Fallback Sell Zone — 3,445 to 3,450 If gold breaks cleanly above 3,405, likely invalidating the primary sell idea, the next institutional level of interest is 3,445–3,450 — sitting on a higher timeframe premium OB and major liquidity shelf. SL: Above 3,455 TPs: 3,395 and 3,370 🌐 Institutional Consensus: Bullish Convergence Institutional analysts across major platforms confirm a bullish bias, with targets hovering around the 3,400–3,420 area: Reuters reports that gold is near a one-week high, supported by weaker U.S. data and increased rate-cut bets. MarketPulse highlights the “return of the bulls” amid sustained momentum and light CPI expectations. Citi has raised its medium-term gold target to $3,500, citing negative U.S. macro headwinds. TradersUnion confirms support at 3,320 and resistance at 3,400 — mirroring our execution levels. There is no significant divergence in sentiment or structure, validating today's trade zones with confidence. 📌 Final Thoughts In a liquidity-driven market, price is engineered — not discovered. Today, that engineering points to one thing: 3,355–3,360 is the Golden Zone — the strongest execution area, supported by eight institutional confluences, favorable structure, and widespread sentiment confirmation. Gold has re-entered its institutional kill-box. The next move? Likely engineered to deliver smart money profits while trapping the uninformed. Don’t chase price. Let it come to your zone. Execute with discipline.
OANDA:XAUUSD
by Tami512
The market trend is still there, go long on the pullback#XAUUSD Yesterday, gold experienced a V-shaped reversal: it was blocked at the 3382 line in the morning and then fluctuated and fell, then it fell to the support near 3349 and stabilized and rebounded, then rebounded to near 3390 in the evening and closed with a doji on the daily line. Judging from the overall trend, the bullish pattern has not changed. Gold has limited room for decline in the short term, and a sharp drop is unlikely. Today's market tends to adjust and correct first before continuing to rise. The adjustment is only short-term, and is more to give everyone enough opportunities to get on board. The focus of the market below is 3375-3360, with the target looking at yesterday's high around 3390-3395. A break is expected to extend to the 3400-3420 area. 🚀 BUY 3375-3360 🚀 TP 3390-3395
OANDA:XAUUSDLong
by Halson_Winston
Gold Bounces from PRZ — Is a Short-Term Rally Underway?Gold ( OANDA:XAUUSD ) started to rise from the Support zone($3,307-$3,275) as I expected in the previous idea . Gold is currently moving near the Support zone($3,350-$3,326) , Potential Reversal Zone(PRZ) , and $3,334 (Important price) . From the Elliott wave theory , it seems that Gold has completed its 5 impulsive waves and now we should wait for corrective waves . Corrective waves can complete at the Potential Reversal Zone(PRZ) . I expect Gold to rise to $3,383(at least) in the coming hours . Second Target: $3,396 Note: Stop Loss (SL) = $3,321 Gold Analyze (XAUUSD), 1-hour time frame. Be sure to follow the updated ideas. Do not forget to put a Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post. Please do not forget the ✅ ' like ' ✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
OANDA:XAUUSDLong
by pejman_zwin
29
Gold: Yesterday’s Surge & Today’s Session StrategyDuring yesterday’s U.S. trading session, gold surged to around 3390 🚀, driven by a series of tariff-related remarks from Trump, Fed personnel changes, and market expectations that the probability of a September rate cut has risen to 91% ⚡️. We successfully took profit near 3355 yesterday, locking in close to maximum gains 💰. Today’s trading strategy: Go short at highs during the Asian session 📉 Go long at lows during the European session 📈 Go short at highs again during the U.S. session 📉 ⚡️⚡️⚡️ XAUUSD ⚡️⚡️⚡️ 🚀 Sell@ 3390 - 3380 🚀 TP 3375 - 3366 - 3356 Daily updates bring you precise trading signals 📊 When you hit a snag in trading, these signals stand as your trustworthy compass 🧭 Don’t hesitate to take a look—sincerely hoping they’ll be a huge help to you 🌟 👇
OANDA:XAUUSDShort
by Conqueror-
Elliott Wave Analysis – XAUUSD August 6, 2025📊 ________________________________________ 🔍 Momentum Analysis • D1 Timeframe: Daily momentum is showing signs of a potential bearish reversal. However, we need to wait for today’s candle to close to confirm the signal. While waiting for confirmation, price may still experience a minor upward move on lower timeframes, but the current bullish momentum is weak and unlikely to extend far. • H4 Timeframe: Momentum is also preparing to reverse. We need to observe the current H4 candle for confirmation. Notably, the reversal signal is forming just below the overbought zone, suggesting there may be one more upward push before a potential decline. • H1 Timeframe: Momentum is approaching the oversold zone. It may take 1–2 more bearish candles before a short-term bullish rebound occurs. ________________________________________ 🌀 Elliott Wave Structure Update Yesterday’s bullish move was disappointing — instead of pushing directly to the 3402 or 3419 target zones to complete Wave 5, price only broke slightly above 3385 before reversing. This behavior complicates wave analysis by introducing conflicting possibilities. We currently consider two main scenarios: Scenario 1: Wave 5 is not yet complete • Given that D1 momentum is preparing to reverse downward, it’s unlikely that the current move is Wave 1 of Wave 5. A more likely scenario is that Wave 3 of Wave 5 has completed and price is currently in Wave 4. • The current corrective structure has stopped at the 0.382 Fibonacci level. As long as price remains above 3370 (the 0.5 Fib level), this strengthens the case for a Wave 4 retracement before another leg up in Wave 5. • Since bullish strength appears limited, we now focus on two main target zones for Wave 5: 3395 and 3402, instead of the previous high at 3419. Scenario 2: Full 5-wave structure is complete – now in correction • If the 5-wave pattern has already finished, the current decline marks the beginning of a corrective phase. • With current momentum conditions, this is still a viable scenario. However, due to the remaining upside possibility, we recommend waiting for today’s D1 candle to confirm momentum before taking any trade. ________________________________________ 📌 Trade Plan For experienced traders: • Wait for price to reach the 3395–3402 zones. • Look for reversal signals in those areas to enter short positions. Suggested trade plan for newer traders: • Sell Zone: 3395 – 3398 • Stop Loss: 3408 • Take Profits: o TP1: 3385 o TP2: 3370 o TP3: 3349 ________________________________________ ✅ Note: This trade plan should be reassessed after today’s D1 candle closes for confirmation of the momentum shift.
OANDA:XAUUSDShort
by WavePoint_FX
1
8/6: Watch for a Potential Double Top FormationGood morning, everyone! Yesterday, gold experienced its first significant supply pressure around the 3386 level, but with support near 3350—helped by positive data—prices rebounded and climbed back toward 3390, resulting in solid overall gains. From the 1-day chart (1D) perspective, the technical structure remains bullish, with MA20 providing firm support. Although short-term moving averages are currently converging, the overall bias remains towards a bullish divergence, suggesting further upside potential. There's a possibility for price to test the 3400–3420 zone in today’s session. That said, the 3386–3398 region may still pose minor selling pressure, although it is not expected to be particularly strong. Key intraday support is seen in the 3378/3372–3362 range. If the market encounters another wave of heavy selling that damages the daily bullish setup, then the 3343–3348 area will become a critical battleground between bulls and bears. 📌 Trading Strategy for Today: Maintain a sell-on-strength approach, especially if prices approach the 3418–3438 resistance area, where short opportunities become more attractive; If a pullback occurs, monitor the aforementioned support zones for potential buy-on-dip opportunities, contingent on stability. ⚠️ Market Risk Reminder: There will be key economic speeches during the US session, which could trigger heightened volatility. Ensure proper risk management and stop-loss settings are in place.
FOREXCOM:XAUUSDShort
by China_MsWang
XAUUSD The beginning of large-scale growthCurrent picture and structure The instrument is trading in a narrow range of $3,360-3,375, demonstrating low volatility - ADX is at the low of 2025, which confirms consolidation The price is held inside a long-term ascending channel, with an increase of about 27% since the beginning of 2024 Indicators and signals RSI (14): around 58-59, indicates moderate overbought, but remains in the bullish momentum zone Stochastic (%K ~61%) and MACD (value ~3.8): Buy signals - short-term upward momentum is confirmed ADX (14): around 23-24 - range, weak trend without a clear direction Moving averages on different timeframes give a common signal indicator "Strong Buy" in daily and weekly frames Support and resistance levels Key support: $3,360 — current lower stop range $3,330–3,293 — swing low zone, critical for short-term sales Main resistance: $3,400–3,415 — profit acceptance zone and possible reversal pressure $3,450 — psychological and technical barrier upon breakout of current zone
ICMARKETS:XAUUSDLong
by Trade_Hive_Signals
Gold crash (SHORT) - head and shouldersGold is at an interesting crossroad. It broke through its diagonal support on Friday the 25th of July. Price is retesting previous support. Does it turn into resistance? Further confluence is a head and shoulders of the H8 and H12, with the right shoulder coinciding with the retest of the diagonal. Since I am long gold with my investments, I am hesitant to short gold through my trading business. However, if my pattern is available, I take the trade. This will be a very short term trade - a few days at most if the trade goes in my favour. Risk/reward = 12.6 Entry price = 3382.5 Stop loss price = 3396.2 Take profit level 1 (50%) = 3230 Take profit level 2 (50%) = 3181 The risk reward is exceptionally high. However, I have taken a more conservative approach with my entry because of my apprehension to short gold. For this trade I will enter at the extreme end of the range in which I will look for entries. This is the reason for such a high RR. It might result in me missing an entry.
PEPPERSTONE:XAUUSDShort
by GTradingMethod
1
Wait for a pullback and then test the previous high#XAUUSD The gold market closed positively on the daily chart, with strong support near 3345-3340 below. The market trend is still dominated by bulls,🐂 but the daily moving average support is too far from the high point. It is not ruled out that it may retreat to the moving average support near 3345-3340,📊 and then rise again.🚀 From the monthly chart, 🌙although the monthly chart closed positive, the market is generally converging at a high level. Upper resistance remains, and a breakout is unlikely without breaking through this resistance level (no further discussion will be given).📉 Judging from the weekly chart, the Bollinger Bands have shrunk, and the MACD indicator has formed a death cross with large volume, indicating weak fluctuations at the weekly level.😩 Judging from the daily chart, 📊the current technical indicators are tending to the zero axis, and the rapid upward correction of the smart indicator indicates that the price fluctuation tends to rebound. The current focus is on yesterday's high around 3385. It is expected to break through 3430. The lower support Bollinger band middle track and moving average tend to stick together around 3346-3340.🌈 Judging from the hourly chart and 4H chart, 📊the overall rhythm tends to fluctuate and fall. The short-term pressure from above is around 3375-3385, and a break above will definitely lead to an increase.📈 On the whole, pay attention to yesterday's NY starting point near 3365-3360, and the strong support below is 3346-3340. The hourly and 4H charts tend to fluctuate and fall, so for short-term trading we need to short on rallies. 📉 Intraday trading suggestions are as follows: 1. Consider going long currently around 3365-3360📈, targeting 3374-3380🎯. If it breaks through, look for 3400. 2. Go long if it retraces below 3355-3340, targeting 3375-3385. Wait for further adjustments.🐂 3. If the price first reaches the resistance level of 3375-3385 and holds, consider going short with a small position and anticipate a pullback towards 3365-3355.🐻
OANDA:XAUUSDLong
by Halson_Winston
4
GOLD Breakout Done , Long Setup Valid To Get 150 Pips !Here is My 15 Mins Gold Chart , and here is my opinion , we finally above 3350.00 and we have a 30 Mins Candle closure above it And Perfect Breakout , so i`m waiting the price to go back and retest this res and new support and give me a good bullish price action to can enter a buy trade and we can targeting 100 to 150 pips . Reasons To Enter : 1- New Support Created . 2- Bullish Price Action . 3- Bigger T.F Giving Good Bullish P.A . 4- Clean Breakout .
FOREXCOM:XAUUSDLong
by FX_Elite_Club
1
GOLD (XAU) SHORT - Double top 30minRisk/reward = 2.8 Entry price = 3382.5 Stop loss price = 3390.5 Take profit level 1 (50%) = 3361.7 Take profit level 2 (50%) = 3356 I am considering a short on gold. Still need some variables to fall into place before I enter the trade. There is nice RSI negative divergence showing declining momentum. Further confluence: - Potential head and shoulders on higher time frame - At area of previous diagonal support which could be turned into resistance if the 30min double top plays out
PEPPERSTONE:XAUUSDShort
by GTradingMethod
Elliott Wave Analysis – XAUUSD, August 5, 2025📊 ________________________________________ 🔍 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
OANDA:XAUUSDShort
by WavePoint_FX
Technical indicators are bullish across the boardInfluenced by the NFP data, gold prices rose strongly, fully recovering last week's losses. The current gold market has broken the previous bull-bear equilibrium and remains in a strong upward trend. We are currently bullish but will not chase the rise. We will wait for gold to fall back and stabilize before trying to go long. Gold is currently in a sideways consolidation. If gold touches the upper short-term resistance of 3365-3370 again in the European session and encounters resistance and pressure, you can consider shorting with a light position and waiting for a pullback. If the gold price breaks up strongly, pay attention to the key suppression level above 3375-3385. As the price of gold continues to rise, the support has moved up. Pay attention to the short-term support of 3345-3330 below. If it retreats and stabilizes, you can consider going long. Independent traders must strictly implement trading plans, and those who are not sure about the market must set stop-loss orders. OANDA:XAUUSD
OANDA:XAUUSDLong
by HuntingWolves