Gold’s Elliott Wave Sequence – The Final Countdown to Support?
Hello everyone, it’s Kelly here. 🌹
Gold has been keeping us on our toes lately, hasn't it? If you’ve been following my charts, you know I’m a firm believer in the rhythm of the market. Right now, the H1 chart is dancing to a very specific tune—the Elliott Wave correction. We aren't just looking at candles; we’re looking at the exhaustion of momentum.
Decoding the Elliott Structure
Based on the current H1 wave count, we are in a textbook bearish cycle:
The Correction Phase: After the initial impulse down, we’ve moved through waves (1), (2), and Currently, Gold is shivering in Wave (4)—a corrective bounce that often traps late buyers.
The Trendline Barrier: Notice how price is hugging that descending trendline. This diagonal resistance has been our North Star, and so far, the bears have defended it with precision.
The "Illiquidity" Void: There’s a significant gap (marked in orange) that price just filled. This "Confirmation of Reduction" tells me that the buying power is fading exactly where the institutional sellers are waiting.
Kelly’s Tactical Playbook
Scenario A: The Wave (5) Capitulation (Primary View)
Price hits the Sell Zone (4,776 – 4,780), fails to break the trendline, and begins the final impulsive leg down to complete the 5-wave sequence.
Execution: Short positions favored near 4,776.
Stop Loss: Above the recent swing high at 4,800.
The Prize : 4,753 (Buy Zone Liquidity Strong). This is where the 1.618 extension sits, and it’s where I’ll be looking to take my chips off the table.
Scenario B: The Structural Shift
A surprise break above 4,785 would invalidate this immediate bearish count. If that happens, I’ll stay flat and wait for the market to reveal its next move. Remember: No trade is also a trade.
Key Levels on Kelly’s Radar
The Ceiling: 4,776 – 4,780
The Mid-Point: 4,720
The Target Floor: 4,753
Final Thoughts from the Desk
Trading isn't about chasing every candle; it's about waiting for the market to come to your levels. Gold is currently at a "Decision Point." Wave (4) is almost mature, and the gravity of Wave (5) is starting to pull.
My advice? Watch the 4,780 handle closely. If the rejection is clean, we are heading for a deep dive to the 4,750s. Stay patient, stay disciplined, and most importantly—stay elegant with your risk management. 💄📈
See you at the take-profit level!
Hello everyone, it’s Kelly here. 🌹
Gold has been keeping us on our toes lately, hasn't it? If you’ve been following my charts, you know I’m a firm believer in the rhythm of the market. Right now, the H1 chart is dancing to a very specific tune—the Elliott Wave correction. We aren't just looking at candles; we’re looking at the exhaustion of momentum.
Decoding the Elliott Structure
Based on the current H1 wave count, we are in a textbook bearish cycle:
The Correction Phase: After the initial impulse down, we’ve moved through waves (1), (2), and Currently, Gold is shivering in Wave (4)—a corrective bounce that often traps late buyers.
The Trendline Barrier: Notice how price is hugging that descending trendline. This diagonal resistance has been our North Star, and so far, the bears have defended it with precision.
The "Illiquidity" Void: There’s a significant gap (marked in orange) that price just filled. This "Confirmation of Reduction" tells me that the buying power is fading exactly where the institutional sellers are waiting.
Kelly’s Tactical Playbook
Scenario A: The Wave (5) Capitulation (Primary View)
Price hits the Sell Zone (4,776 – 4,780), fails to break the trendline, and begins the final impulsive leg down to complete the 5-wave sequence.
Execution: Short positions favored near 4,776.
Stop Loss: Above the recent swing high at 4,800.
The Prize : 4,753 (Buy Zone Liquidity Strong). This is where the 1.618 extension sits, and it’s where I’ll be looking to take my chips off the table.
Scenario B: The Structural Shift
A surprise break above 4,785 would invalidate this immediate bearish count. If that happens, I’ll stay flat and wait for the market to reveal its next move. Remember: No trade is also a trade.
Key Levels on Kelly’s Radar
The Ceiling: 4,776 – 4,780
The Mid-Point: 4,720
The Target Floor: 4,753
Final Thoughts from the Desk
Trading isn't about chasing every candle; it's about waiting for the market to come to your levels. Gold is currently at a "Decision Point." Wave (4) is almost mature, and the gravity of Wave (5) is starting to pull.
My advice? Watch the 4,780 handle closely. If the rejection is clean, we are heading for a deep dive to the 4,750s. Stay patient, stay disciplined, and most importantly—stay elegant with your risk management. 💄📈
See you at the take-profit level!
Trade attivo
The arrows are 100% accurate, guys! 2 short signals and 1 long signal, absolute profit!
📌 New analysis published daily
🔔 Follow this profile for real-time updates
⚠️ This is personal analysis, not financial advice
Daily GOLD and Forex updates: t.me/+SOSI26CZOJ1mZDhl
🔔 Follow this profile for real-time updates
⚠️ This is personal analysis, not financial advice
Daily GOLD and Forex updates: t.me/+SOSI26CZOJ1mZDhl
Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
📌 New analysis published daily
🔔 Follow this profile for real-time updates
⚠️ This is personal analysis, not financial advice
Daily GOLD and Forex updates: t.me/+SOSI26CZOJ1mZDhl
🔔 Follow this profile for real-time updates
⚠️ This is personal analysis, not financial advice
Daily GOLD and Forex updates: t.me/+SOSI26CZOJ1mZDhl
Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.