Chart 1: 2-Hour Chart (Short-Term View)
Pattern Observed:
Clear Elliott Wave structure identified.
Wave ①, ②, ③, and ④ are completed.
Currently in Wave ⑤ (ongoing impulsive up move).
Current Setup:
Wave ⑤ has started and appears to be very impulsive.
The target for Wave ⑤ is near $3600 zone.
Expect a sharp upside move toward $3600 in coming sessions (possibly within next 1–2 weeks).
Important Note:
Since Wave ⑤ is impulsive, price may move very fast with little retracements.
Strategy:
Short-term bullish until $3600 is reached.
After completing ⑤, expect a strong and sharp correction downward.
Chart 2: Weekly Chart (Medium-Term View)
Pattern Observed:
Weekly candle has formed a long-legged inverted hammer, almost like a high wave spinning top.
This is a warning sign indicating strong indecision and possible trend exhaustion.
Interpretation:
Weekly structure is signaling that GOLD is losing strength at higher levels.
There is hesitation for further continuation of the uptrend.
After a small last push (likely completing the final Wave ⑤), there are high chances of a bigger retracement.
Strategy:
Watch closely how next week’s candle forms.
If next week closes weakly or forms a bearish pattern (like bearish engulfing), expect bigger fall.
Chart 3: Monthly Chart (Long-Term View)
Pattern Observed:
Monthly chart shows momentum loss at top.
AO (Awesome Oscillator) indicator is flattening after a massive upmove.
Momentum divergence starting to appear (price made higher high, AO showing flattening/slightly diverging).
Interpretation:
GOLD is still strong, but momentum is clearly reducing at the top.
If GOLD touches $3600 next month and fails to sustain, a big red monthly candle can form.
This could mark the start of a medium-term bearish phase (several months correction).
Strategy:
Next month (May 2025) is extremely critical for GOLD’s major trend decision.
If a red candle forms in May after touching $3600, it could trigger a multi-month downward correction.
Conclusion:
In the short term (next few days), GOLD likely continues to rally towards $3600.
Next 2–3 weeks are critical — observe if reversal signs appear near $3600.
May 2025 is very important:
A monthly red candle after touching $3600 can confirm a bigger downward correction.
If correction starts, it will likely be sharp and deep, matching the intensity of the 5th wave up.
Disclaimer:
This analysis is for educational purposes only and not a financial advice. Trading involves risk. Please consult your financial advisor before making trading decisions.
Pattern Observed:
Clear Elliott Wave structure identified.
Wave ①, ②, ③, and ④ are completed.
Currently in Wave ⑤ (ongoing impulsive up move).
Current Setup:
Wave ⑤ has started and appears to be very impulsive.
The target for Wave ⑤ is near $3600 zone.
Expect a sharp upside move toward $3600 in coming sessions (possibly within next 1–2 weeks).
Important Note:
Since Wave ⑤ is impulsive, price may move very fast with little retracements.
Strategy:
Short-term bullish until $3600 is reached.
After completing ⑤, expect a strong and sharp correction downward.
Chart 2: Weekly Chart (Medium-Term View)
Pattern Observed:
Weekly candle has formed a long-legged inverted hammer, almost like a high wave spinning top.
This is a warning sign indicating strong indecision and possible trend exhaustion.
Interpretation:
Weekly structure is signaling that GOLD is losing strength at higher levels.
There is hesitation for further continuation of the uptrend.
After a small last push (likely completing the final Wave ⑤), there are high chances of a bigger retracement.
Strategy:
Watch closely how next week’s candle forms.
If next week closes weakly or forms a bearish pattern (like bearish engulfing), expect bigger fall.
Chart 3: Monthly Chart (Long-Term View)
Pattern Observed:
Monthly chart shows momentum loss at top.
AO (Awesome Oscillator) indicator is flattening after a massive upmove.
Momentum divergence starting to appear (price made higher high, AO showing flattening/slightly diverging).
Interpretation:
GOLD is still strong, but momentum is clearly reducing at the top.
If GOLD touches $3600 next month and fails to sustain, a big red monthly candle can form.
This could mark the start of a medium-term bearish phase (several months correction).
Strategy:
Next month (May 2025) is extremely critical for GOLD’s major trend decision.
If a red candle forms in May after touching $3600, it could trigger a multi-month downward correction.
Conclusion:
In the short term (next few days), GOLD likely continues to rally towards $3600.
Next 2–3 weeks are critical — observe if reversal signs appear near $3600.
May 2025 is very important:
A monthly red candle after touching $3600 can confirm a bigger downward correction.
If correction starts, it will likely be sharp and deep, matching the intensity of the 5th wave up.
Disclaimer:
This analysis is for educational purposes only and not a financial advice. Trading involves risk. Please consult your financial advisor before making trading decisions.
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.