Gold is showing a corrective recovery after the previous bearish wave completed near the lower area. From Kelly’s view, the current chart suggests that XAUUSD may be forming an ABC rebound structure, with buyers trying to defend the 4,330–4,340 zone before pushing price higher.
The key idea is simple: gold is recovering, but this still looks like an ABC correction, not a full bullish reversal yet.
⟡ Market structure
The chart shows gold completed a sharp bearish 5-wave decline from the upper area, then reacted strongly from around 4,310. After that, price started to build a recovery structure and is now trading around 4,350.
The nearest important support is the Buy wave B zone around 4,330–4,340. If gold pulls back into this area and buyers continue to defend it, the market may form wave B and prepare for wave C higher.
The next resistance is around 4,360–4,370, marked as the sell scalping area. If price breaks above this zone with strength, the recovery may continue towards 4,395–4,405, where the chart marks the possible End wave ABC area.
➤ Key levels
◌ 4,330–4,340: Buy wave B zone and key support
◌ 4,350: current price reaction area
◌ 4,360–4,370: sell scalping / short-term resistance
◌ 4,395–4,405: End wave ABC target zone
◌ 4,310: recent wave 5 low and structure protection
◌ Below 4,310: area where the recovery setup weakens
⌁ Elliott Wave view
From an Elliott Wave perspective, gold appears to have completed a bearish 5-wave sequence before starting the current recovery.
Wave A is forming from the 4,310 low into the current reaction area.
Wave B may pull back into the 4,330–4,340 buy zone.
If wave B holds, wave C may continue higher towards 4,360–4,370 first, then 4,395–4,405.
This is why Kelly is watching the current recovery as an ABC correction. The move can still rise, but buyers need to protect the wave B support before the next bullish leg becomes cleaner.
▸ Trading scenario
Preferred scenario: wait for gold to pull back into the Buy wave B zone and show bullish confirmation.
Entry zone: 4,330–4,340 if bullish confirmation appears
Stop loss: below the confirmed wave B low or below 4,310
Take profit 1: 4,360–4,370
Take profit 2: 4,395–4,405
Take profit 3: higher only if price breaks the ABC target with strong momentum
Alternative scenario: if gold breaks below 4,310 with strong bearish pressure, the ABC recovery setup weakens. In that case, price may return to a deeper bearish continuation before building a new support base.
⌁ Kelly’s view
For Kelly, gold is currently in a recovery phase after a bearish wave. The short-term structure supports an ABC rebound, but the clean setup is still to wait for price to confirm support around 4,330–4,340.
Gold may continue its corrective rise.
If Buy wave B holds, wave C may target the 4,395–4,405 area.
Share your view below.
İşlem aktif
The Sell at resistance, marking the completion of the ABC wave, played out precisely. The key is to identify the price zone first, then watch for a rejection candle.
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📌 New analysis published daily
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⚠️ This is personal analysis, not financial advice
Daily GOLD and Forex updates: t.me/+SOSI26CZOJ1mZDhl
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⚠️ This is personal analysis, not financial advice
Daily GOLD and Forex updates: t.me/+SOSI26CZOJ1mZDhl
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.