XAUUSD: Market Analysis and Strategy for August 5th.Gold Technical Analysis:
Daily chart resistance: 3430, support: 3300
4-hour chart resistance: 3400, support: 3334
1-hour chart resistance: 3385, support: 3350.
Gold prices have continued their upward trend since breaking through $3335 last Friday, with an overall bullish outlook. Currently trading around $3356, support lies at $3350, a key defensive barrier for bulls. If this level breaks, gold could fall further to $3328 or even the $3300 mark. Conversely, upward resistance lies at $3385 (previous high), $3400 (round number), and $3430 (trend line resistance). If gold successfully breaks through these resistance levels, it could retest the year's high of $3500. During NY trading, focus on the $3388-3405 range above and the $3350-3334 support range below. Keep an eye on the bull-bear dividing line at 3350!
BUY: 3350
SELL: 3345
SELL: 3385
GOLD trade ideas
GOLD 1Hello to all traders. 😎😎
I hope all your deals will hit their targets. 🎉🎉
In my opinion, gold is currently moving within an ending pattern with a slight upward slope. This type of pattern is typically a reversal formation, and I believe it could lead to a drop in gold prices.
At the moment, I think gold might revisit the $3390–$3400 zone, and from there, we could see a deeper decline—first toward the bottom of the ending pattern at $3370, and if the pattern breaks, possibly down to $3340 or even lower.
However, if gold breaks above the $3400 level with strength, this analysis would be invalidated, and we could then expect a move toward the $3440 area.
⚠️⚠️⚠️⚠️Don’t forget to apply proper risk management!
What Do You Think?
Which scenario do you think is happen? **Share your thoughts!** ⬇️
Don't forget that this is just an analysis to give you an idea and trade with your own strategy. And don't forget the stop loss🛑🛑🛑
❤️❤️❤️The only friend you have in financial markets is your stop loss❤️❤️❤️
Please support me with your ✅' like'✅ and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me 🙏😊
Be Happy , Ali Jamali
GOLD BULLS STILL HAVE LAST PUSHBULLS 15M still have power still we have 3414 area need to be tested before we get good correction (BEAR IN MIND GOLD LONG TERM IS BULL)
We will only get this correction if 3414 area holds
Most likely will hold cos i can see 2985 area before we creating new highs for GOLD (2985 AREA WILL BE GOOD PLACE TO BUY AND HOLD)
Any way ONLY TIME WILL TELL
GOOD LUCK
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.
Gold (XAU/USD) - Market Structure Analysis Points to Next MoveThe provided 4-hour chart for Gold (XAU/USD) displays a market structure analysis incorporating concepts like Break of Structure (BOS), Change of Character (CHoCH), Fair Value Gaps (FVG), and defined support and target (resistance) levels. The price has shown a recent bullish trend, marked by higher highs and higher lows, confirmed by BOS signals. Currently, the price is consolidating around the 1st support level after reacting to a FVG.
Current Position: Consolidating around the 1st support level (approximately $3,365.028 - $3,353.094).
Support Levels:
1st support: Immediate support zone.
2nd support: Lower support zone ($3,328.619 - $3,320.000).
GL Zone & Support Zone: Confluence of a Golden Level and support ($3,299.096 - $3,290.067).
MAJOR SUP ZONE: Significant historical support area ($3,280.000 - $3,273.685).
Resistance Levels (Targets):
1st TG: Target/resistance zone ($3,392.891 - $3,402.807), containing a FVG.
2nd TG: Higher target/resistance zone ($3,413.659 - $3,423.805), also containing a FVG.
Market Structure: Evident bullish market structure with BOS confirmations, although a recent CHoCH suggests a potential shift or at least a temporary pause in the aggressive uptrend. Multiple FVGs indicate areas where price might find support or resistance.
Potential Trading Scenarios
Bullish Continuation: If the price respects the 1st support level and moves to fill the lower FVG within the 1st TG, a long opportunity could arise targeting the 2nd TG. Confirmation would be a break above the upper boundary of the 1st TG.
Bearish Retracement: If the 1st support fails to hold, the price could retrace towards the 2nd support level. A break below the 1st support and a failure to hold the FVG within the 1st TG would signal this scenario.
Range Trading: The price could consolidate between the 1st support and 1st TG levels, offering short-term trading opportunities within this range.
Explanation of Specific Elements
BOS (Break of Structure): Indicates a continuation of the current trend. A bullish BOS occurs when the price makes a higher high, confirming the uptrend.
CHoCH (Change of Character): Suggests a potential shift in the market's behavior. A bearish CHoCH after a bullish trend might indicate weakening buying pressure and a possibility of a reversal or a significant pullback.
FVG (Fair Value Gap): Represents an inefficiency in the market where there were aggressive price movements with less trading volume on one side. These gaps can act as future support or resistance levels as the market often tries to fill them.
Support Levels: Price levels where buying pressure is expected to outweigh selling pressure, potentially halting a downtrend.
Target/Resistance Levels (TG): Price levels where selling pressure is expected to outweigh buying pressure, potentially halting an uptrend.
GL Zone & Support Zone (Golden Level): This likely refers to a support level coinciding with a Fibonacci Golden Ratio level, often considered a high-probability reversal zone.
MAJOR SUP ZONE: A significant historical support level where strong buying interest has been seen in the past.
TradingView "Publish Idea" Post Based on the Chart
Title: Gold (XAU/USD) - Bullish Structure Consolidating at Support with Breakout Potential
Analysis:
Gold (XAU/USD) on the 4-hour timeframe shows a clear bullish market structure confirmed by multiple Breaks of Structure (BOS). After a strong upward move, the price is currently consolidating around the 1st support level ($3,365.028 - $3,353.094), which also aligns with a Fair Value Gap (FVG).
The presence of a recent Change of Character (CHoCH) suggests that the aggressive bullish momentum might have temporarily subsided, and we could be seeing a period of accumulation before the next move. The price action within the FVG near the 1st TG ($3,392.891 - $3,402.807) will be crucial.
Potential Scenarios & Trading Plan:
Bullish Continuation: If the 1st support holds and the price breaks above the upper boundary of the FVG within the 1st TG, it would signal a likely continuation of the bullish trend.
Long Entry: Upon a confirmed breakout above $3,402.807.
Target 1: The 2nd TG zone ($3,413.659 - $3,423.805), which also contains a FVG.
Stop Loss: Place below the 1st support level (e.g., below $3,353.000) to manage risk.
Bearish Retracement: Failure to hold the 1st support could lead to a deeper retracement.
Short Entry: On a confirmed break below $3,353.000.
Target 1: The 2nd support zone ($3,328.619 - $3,320.000).
Stop Loss: Place above the 1st support level.
Key Levels to Watch:
Support: $3,365.028 - $3,353.094, $3,328.619 - $3,320.000, $3,299.096 - $3,290.067.
Resistance (Targets): $3,392.891 - $3,402.807, $3,413.659 - $3,423.805.
GOLD: Local Bearish Bias! Short!
My dear friends,
Today we will analyse GOLD together☺️
The in-trend continuation seems likely as the current long-term trend appears to be strong, and price is holding below a key level of 3,375.02 So a bearish continuation seems plausible, targeting the next low. We should enter on confirmation, and place a stop-loss beyond the recent swing level.
❤️Sending you lots of Love and Hugs❤️
Elliott Wave Analysis Points to Gold (XAUUSD) Support Near 3320Gold (XAUUSD) appears poised for a double correction from its 16 June 2025 high. A double three consists of two corrective patterns, typically zigzags. From the June peak, wave (W) concluded at 3246.55, and wave (X) rallied to 3438.58, as shown on the 1-hour chart. Wave (Y) is now unfolding lower with internal subdivision as a zigzag. From wave (X), wave ((i)) ended at 3351.17, and wave ((ii)) peaked at 3377.45. Wave ((iii)) declined to 3324.80, followed by a wave ((iv)) rally to 3340.34. The final wave ((v)) completed at 3311.62, forming wave A in a higher degree. A corrective wave B rally reached 3345.35 before gold resumed its downward move.
Within wave C, wave ((i)) finished at 3301.47, and wave ((ii)) rallied to 3334.08. Wave ((iii)) dropped to 3267.94, with wave ((iv)) ending at 3314.85. Gold should continue lower in wave ((v)) to complete wave C. The potential target lies within the 100%–161.8% Fibonacci extension from the 16 June high. This projects a support zone between 3104 and 3230, where a three-wave rally is anticipated. Traders should monitor this area for potential reversal signals, as it may offer support for a corrective bounce.
Potential Reversal After Complex CorrectionThe current movement of gold (XAUUSD) is estimated to be forming part of wave ii of wave (c) of wave under the black label scenario. This implies that XAUUSD has the potential to undergo a deeper correction, targeting the 3,073–3,184 range.
However, under the alternative red label, the price action appears to be developing a triangle pattern as part of wave of wave 4. In this scenario, XAUUSD still holds the potential for further upside toward the 3,394–3,438 area, which also coincides with a Fibonacci cluster zone, serving as a critical resistance region.
Gold may paint a false breakdown of supportGold is testing local resistance at 3325 with a touch. It is also touching the lower boundary of the channel. Thus, the price is stuck in the range between 3325 and 3320. A return of the price to the upward channel may attract buying activity. In this case, we can expect growth to 3375 or to the channel resistance.
The trend is upward. If gold does not fall but returns to the channel, we will see a false breakdown of support. According to statistics, all the strongest movements begin after false breakdown
XAUUSD Update 03 Augt 2025 BOUNCINGAs we knew on last weekend, price has bounced from 3267 level. It wont touch 3245-50 as a support.
From this reaction, we will follow on this week, is the price will break 3378 resistance ?
Is the price will retest 3400 level again and again ?
And if it so, it seemlikes a bullish momentum.
Just becarefull, waiting for the price make a correction first.
Have a blessing week ahead !
SELL THE RALLIES ON GOLD 🟡 Gold Daily Time Frame Analysis
🔍 Market Structure Overview
Gold has been consolidating in a broad range near its all-time highs, indicating a bullish exhaustion. This prolonged sideways movement is characteristic of a distribution phase, often preceding a potential trend reversal.
The current price action lacks strong directional momentum, as buyers appear exhausted near record highs.
The distribution pattern implies that institutions may be preparing to offload long positions and potentially build short positions for a future bearish move.
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🟥 Red Rectangle – Resistance Zone (Potential Distribution Area)
Price has repeatedly tested this zone without a successful breakout.
This zone likely contains heavy sell-side liquidity and institutional supply.
Key Resistance Levels within this zone:
$3,400
$3,425
$3,480
This repeated failure to break higher reinforces the possibility of a trend reversal from this area.
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🟦 Blue Rectangle – Minor Support (Liquidity Engineered Zone)
Gold is reacting to this minor support zone, showing temporary buying interest.
This may indicate that institutions are building liquidity, luring in buyers to drive price back toward the red zone.
Once sufficient liquidity is accumulated, smart money may offload remaining long positions into resistance, and initiate a bearish trend.
Key Support Levels:
$3,300 – immediate minor support
$3,200
$3,100
$3,000 – major psychological and technical support
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📈 Institutional Price Behavior
This price behavior aligns with Wyckoff Distribution Theory, where:
Price consolidates near the top
Demand weakens
Institutions offload to late buyers
Downtrend begins after liquidity sweep or Upthrust (UTAD)
---
🧠 Conclusion
Gold’s ranging structure near ATH suggests we may be in a distribution phase. The reaction to the minor support implies a liquidity-building move to draw price back to resistance before a potential markdown phase (bearish trend) begins.
XAUUSDGold (XAUUSD) has been undeniably one of the most rewarding instruments to trade this year. Whether that be longs or shorts.
Well, after the latest drop let’s be clear on one thing…. There is another big one to come.
There is a 4 year cycle of behaviour to not be ignored. Question, what happened this time in the Gold charts 4 years ago?
If you know the answer then you need to be setting up for sells.
Of course there have been many highs made this year and some are anticipating a new ATH before the drop. It is possible based on price action in 2025.
If history is to repeat itself, the open of Asian Session tonight (030825) could see a continuation up of the explosion up of Friday (010825). This should result in the sweeping out of stop losses of any sells that have been held over the weekend.
The closure of the sells will create buying pressure sending price further up to retest at least the most significant swing high. At and from this level and a few more above, we can look out for sustained selling to break below 3300 and beyond.
It is just theory at this point but should be taken into account.
Potential sell areas:
3368-3370
3378-3380
3400-3405
3412-3416
3428-3430
3433-3438
3444-3450
Of course risk management is key. But from the highest point that price reaches early next week could be the start of a very good sell.
All entry zone me should have an initial 1:2RR while holding partial sells with extended TPs as far as 3233,3217,3198,3159,3099.
Good luck 🤞
This is not financial advice and should be taken with a pinch of salt.
Gold – Party’s Over… or Just Getting Started?Yesterday was… interesting, but honestly, not that surprising. Price shot up to 3385 like it was chasing the last drink at a party. The real question now is: what happens after the party? Because today, the confetti’s still in our hair, but someone has to clean up this mess.
This analysis will go deeper than usual, because we’ve got geopolitical drama on the horizon that could seriously shake up the price of gold.
The Setup – Trend or Just a Power Nap?
Gold is taking a breather – not the end of the trend, just a little post-party nap. The 1-hour EMAs are still pointing upwards, but there’s a slight hesitation showing. Watch the 50 EMA (the orange one) – that might be the judge and jury for gold’s fate. If price breaks below, we could see a quick visit to the 3340 zone.
Trend strength? Still strong at 41. Translation: The party isn’t over yet. But on the 1-hour chart, this bullish move is starting to lose steam – trend strength is above the horizon but flattening. What’s more, our short line is sneaking up toward the horizon too… if price dips further, that line might peek above. That’s a classic “trend fatigue” signal – like a boxer taking a breather between rounds.
Yesterday RSI punched through the overbought zone, then promptly got smacked down from 3385. Now it's calmly drifting lower. Currently, RSI is below the 4-hour RSI-EMA, which is a shortish sign… but hey, we never enter trades based on RSI alone, right? 😉
Bonus: That Fair Value Gap (FVG)
Gold left us a beautiful FVG on the chart – like bulls sprinting so fast they spilled their coffee on the carpet. This created a “gap” around 3300–3340. Markets hate mess. They’re perfectionists. And they often go back to clean up spilled coffee before moving on. This gap will likely be filled – the only question is: when?
Will we get it today? Not likely.
But hang tight… we’re not done.
🔮 My Take…
Today I expect a gentle slide. Price feels drawn to 3355 like a moth to flame. 3340 looks like solid support, if price decides to keep sliding. Do I think we’ll fill the entire FVG today? Nah. There’s not enough momentum behind this right now.
But there’s a wild card: the Geopolitical Joker.
If Israel launches a full-on ground offensive in Gaza, that’s like tossing a boulder into a calm lake.
War = Uncertainty = FEAR.
And fear drives money into gold like it’s a medieval castle during a dragon attack.
When fear hits, RSI doesn’t matter. FVG? Forget it. EMAs? Irrelevant.
Money flees risk assets (stocks, crypto) and dives headfirst into the safety of gold.
Two Battle Plans Ahead:
1. The Cleaning Crew Scenario:
No geopolitical drama yet. Price slides gently, fills part of the FVG, maybe tests 3340. If we reach 3330, gold might chill there, gather strength at the 3315 support, and maybe bounce for a new bullish run.
2. The Iron Dome Scenario:
The news hits. Boom. Fear skyrockets. Gold ignores all technicals, skips the cleaning, and rockets toward 3400, maybe even 3440. No questions asked.
What Would I Do Today?
Time for the sniper strategy.
No chasing the herd. No standing in front of a speeding train.
We wait for clear signals.
Buying now? Risky – price might retrace.
Shorting in this bullish mess + geopolitical tension? Market suicide.
Patience is key. If price just chops sideways while everyone holds their breath over the headlines… entering a trade now could backfire spectacularly.
Not financial advice – just a gold-obsessed human sharing thoughts.
What about you?
Will gold clean up the mess, or will the fear-fueled stampede into gold send us sky-high?
And now… for my fellow gold-hunters, the same analysis in Hungarian, because some things just hit harder in your mother tongue
A tegnapi nap érdekes volt, de lehetett rá számítani. Most az a kérdés mi jön a buli után mert 3385-ig felnyomták az árat. A mai elemzés kicsit részletesebb lesz mert vannak geopolitikai hírek ami nagyon befolyásolhatja az arany árát. A jelenlegi megpihenés még nem a trend végét jelenti, csak rápihenés a tegnapi bulira. Konfetti még a hajakba, de rendetlenséget hagytak, így a takarítás ideje jött el. Az EMA-k az 1 órás charton felfelé trendet mutatnak, de ott is látszik egy kicsi megtorpanás. Az 50-es EMA (narancssárga) lehet az a pont, ami eldönti az arany sorsát. Ha átszakítjuk, akkor jöhet a 3340-es szint.
Arena TrendIQ: A trenderő még mindig erős. 41-es értékkel mutatja, hogy itt nincs vége a bulinak. Jelenleg a felfelé menő trend kezd gyengülni az 1 órás charton de még a horizont felett van. Ami érdekes hogy a short vonalunk is megközelítette a horizontot. Ha még lejjebb fog ereszkedni az ár akkor mennyire befigyel horizont fölé.
Arena RSI: Tegnap is benéztünk a túlvett szint felett azóta szépen csorog lefelé ami látszik a charton is. Felszúrt 3385-ig túlvett szint megvolt majd kapott egy pofont és lefelé vette az irányt. Jelenleg a 4 órás RSI-EMA alatt van, ami önmagában shortos jel, de csak RSI-re nem lépünk be pozícióba.
Mit látunk még? Azt hogy hagyott nekünk egy szép FVG-t az aranyunk. A bikák annyira siettek felfelé, hogy "kiöntötték a kávét" a szőnyegre. Ez a grafikonon egy üres terület, egy "rés", amit az árfolyam otthagyott maga után (kb. a 3300-3340 közötti zónában). A piac pedig perfekcionista, utálja a rendetlenséget és a foltokat. Nagyon gyakran visszatér, hogy feltakarítsa maga után kiöntött kávét, és még tovább menne. Ezt hívjuk Fair Value Gap (FVG) betöltésnek.
Számíthatunk rá? Hogy a viharba ne... De nem ma!
🔮szerintem...
Ma finom lecsorgás lesz a piacon. A 3355-ös szint vonzza most az árfolyamot. A 3340-es sáv jó támasznak ígérkezik, ha tovább szeretne lefelé menni. Szerintem ma nem tölti be a teljes FVG-t, mert nincs mögötte ebben a pillanatban azaz erő, ami odáig levinné az árat. És van itt még valami, ami totál áthúzhatja a szép finoman lecsorgás elméletét, ami nem más, mint a Geopolitikai Joker. Ha Izrael valóban megindítja a szárazföldi hadműveletet, az egy hatalmas kő a tóba dobva. A mechanizmus: Háború és bizonytalanság = FÉLELEM. A félelem pedig a befektetőket a legősibb menedékbe, az aranyba hajtja. Ilyenkor nem számít az RSI, az FVG, vagy a mozgóátlag. A pénz a kockázatosabb eszközökből (pl. részvények, kripto) az aranyba menekül. Az arany ilyenkor olyan mint a viharban a stabil, masszív kőház. Amikor kint dörög az ég és villámlik, mindenki oda akar bejutni, biztonságba. Most van két forgatókönyvünk tehát, így a helyzet ravasz és furfangos. A technikai kép egy kisebb, egészséges visszahúzódást, a "takarító hadműveletet" valószínűsíti. A fundamentális kép pedig ennek az ellenkezőjét.
A Takarító Brigád Forgatókönyv: A geopolitikai helyzet nem szól bele azonnal. Az árfolyam szépen lecsorog, hogy feltöltse az FVG egy részét, de a 3340-ig totál egészséges lenne. Ha meg lesz a 3330 ott erőt gyűjthet esetleg az alatta lévő 3315-ös támaszon és onnan indulhatna egy új stabilabb emelkedésnek.
A Vaskupola Forgatókönyv: Jön a hír... A félelem-faktor az egekbe szökik. Az arany ignorál minden technikai szintet elfelejti a takarítást és azonnal kilő célba véve a 3400-as, majd a 3440-es szinteket.
Én mi tennék ma? A legjobb stratégia most a "lesben álló mesterlövése". Nem rohanunk a csorda után és nem is állunk a vonat elé. Megvárjuk, amíg a piac dönt. A jelenlegi szintről vásárolni kockázatos a visszahúzódás miatt. Shortolni pedig egy ilyen bikás trendben és geopolitikai helyzetben öngyilkosság. Várjunk a jelekre, mert ha csak simán oldalazás lesz se le, se pontosan azért mert mások is figyelnek a háttérre, akkor nagyon megszívhatjuk. Ez nem befektetési tanács, csak egy aranyrajongó véleménye. Ti hogyan látjátok? Jöhet a takarítás, vagy a menedék aranyban most mindent visz?
Gold is under pressure. Can the upward trend continue?On Thursday, gold rose rapidly in the European session, reaching around 3397, but failed to successfully break through the 3400 integer mark; it currently fell back slightly and fluctuated around 3375. Judging from the 4-hour chart, the price is currently running close to the middle track of the Bollinger band; since the market opened this week, the gold price has continued to run above the middle track of the Bollinger band. Despite the slight decline, it has remained within the upward trend channel and has continuously set new highs.
The current upward pressure position remains at 3390-3400, and the key support level is around 3370, which is also the crossover position of the current MA5, 10, and 20 moving averages. The RSI indicator remains above its midline, indicating that bullish momentum remains.
Quaid believes that as long as the price remains above 3370 in the US session, any pullback will be a sign of accumulating upward momentum. Gold still has the trend of hitting the 3400 integer mark.
Trading strategy:
Go long near 3370, stop loss at 3360, profit range 3380-3390-3400.
Short near 3400, stop loss at 3410, profit range 3375-3365-3355.
Gold will drop like rain till 3250.Hello IGT FOLLOWER'S
Here is my gold overview, According to me Gold is currently facing resistance around the 3290–3310 zone. This setup anticipates a rejection from this area, with bearish momentum expected to push price downward. A break above 3310 would invalidate the setup, so risk management is key.
Key points:
Entry point: 3290
1st target : 3275
2nd target: 3250
Follow me for more latest updates and signals
Gold short – Head and Shoulders Setting Up on 15min?There’s a potential head and shoulders pattern forming on the 15-minute chart.
📌 What I’m watching for:
A 15min candle close back inside the neckline range
Lower volume on the right shoulder vs. the left (to confirm weakening momentum)
🧠 Trade Idea (Short bias)
🎯 Entry: 3380.9
❌ Stop Loss: 3388.0
✅ Take Profit 1 (50%): 3358.9
✅ Take Profit 2 (50%): 3346.3
⚖️ Risk/Reward: 3.8R
This setup lines up with my trading method that focuses on structure, volume, and clean risk/reward.
🤔 What are your thoughts on gold today?
Are we about to roll over — or will bulls push through resistance?
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.