Gold (Elliott Wave Analysis)

Welcome to the Elliott Wave Analysis for Gold Thread

Hello everyone,

Welcome to this dedicated forum thread where we will focus on Elliott Wave analysis specifically for Gold (XAU/USD). The goal of this thread is to create a space for traders, analysts, and enthusiasts to discuss, analyze, and share insights based on the principles of Elliott Wave Theory as applied to the gold market.

Elliott Wave Theory offers a unique perspective on market cycles, helping to predict the future price movements of assets like Gold by identifying recurring patterns in price action. In this thread, we will aim to:

Analyze Gold's price movements using Elliott Wave principles

Share chart patterns and wave counts, looking for common trends and shifts

Discuss market psychology and how waves reflect the collective behavior of traders

Post trade setups and projections based on wave analysis
Collaborate and learn from each other's analysis to better understand market dynamics

Feel free to post your own charts, wave counts, thoughts, and questions. Let’s work together to improve our understanding of Gold’s price action through the lens of Elliott Wave Theory!

Looking forward to insightful discussions!

Great ..

The fourth wave pattern needs to be completed in order to finish the impulse. This wave is crucial for the overall structure, as it serves as a corrective phase before the final, fifth wave. The completion of the fourth wave signals the near conclusion of the impulse phase, setting the stage for the final upward or downward movement to complete the entire trend. 2727 breaks above. pattern invalid.

Yeah... Long time coming.
We hope to see more of you brother.
Great job!

The correction wave B has extended from the typical swing low point at the level of 2664. A trendline break below the NFP low would signal a move towards the 2664 target.

Alternative:



Alternatively, if the trendline is rejected, the price could move upwards to complete the five-wave pattern. This could also lead to a break above the trendline, invalidating the bearish scenario.

namskar ji
if chart hr also share than more understanig

The trendline break has occurred, and based on the signals received, the next target is expected to reach 2664.

Hi
Is there any reasons why you are limiting your EW analysis just to Gold?
What's the lower time frame you apply this analysis?
Thanks

Gold is likely to break below the 2664 level, which would open the way for a new support level to form at a lower point.

Hi,
I am capable of analyzing any graph or sensitive data, including the accumulation and distribution patterns that influence future growth. I can assess lower timeframes and identify sub-waves, which often exhibit a mirrored reflection. There is a specific method I use to apply counts effectively in my analysis.

Thank you buddy..

I may be looking for a sell 2676 - 78 I think prizes are yet to reach 2660 before long. this with a very tight SL of 2681

Let’s hope this thread stays focused on learning and development

Understood thanks
Are you willing to explain your specific method of counting or it's not in the scope of this thread?

Elliot wave is a good way of looking at charts. But i want you to consider something even simpler to look at. It will help you even more with finding entries. And it usually works when price is lingering at support or resistance.

Divergence. Bearish or bullish divergence

My bullish scenario for Gold shows complete tringle for wave ((4)) on the daily timeframe.

The price has breached the 2664 level and tested the nearest support at 2657, which strongly suggests a bearish pattern. This indicates that the market is likely to complete the (c) wave below the 2657 level and, from Federal Reserve meeting to Non-Farm Payroll (NFP) data release, the market's wave formation is providing confidence for further downward movement. Currently, the (b) wave complete between the 2683 to 2693 levels. breaks above pattern invalid.

The (b) wave appears to be complete between the specified levels and is expected to move downward towards the (c) wave.

Good luck with the thread - I as well have been studying the wave theory for ages and have been an on and off wave theory trader as its not easy - the method isnt easy but with times it starts to becomes easy as u start to spot those waves like an instinct or 6th sence

I trade Gold with the wave theory and has been sticking with elliot wave for maybe the last 4 months - I use TDI maybe u heard of Trading Made Simple thread as a way to tackle Gold market with Divergence regular or hidden and then trade my wave plan

Lets keep this thread going as most of the wave theory thread wear off too soon - hope this keeps going and again good luck with the thread

One more note everyone - as the wave theory gets easier dosent mean the wave plan shared in this thread will work out - a wave plan is structured with being carful the reason is in the wave theory a trader tends to fall in the bias trap as the wave must be planned based on what u see on the chart and live market not what u think the bias is the most difficult thing I faced with the wave theory and its the hardest to overcome

Sometimes a wave plan is constuctued only the market comes and you have to shift your plan to B plan and thats so important so that a trader stays a head of the market and not just stuck with a plan that might be not ready yet or wrong

In the wave theory one has to be careful at most and as much as possible

Good Luck

DAILY TIMEFRAME

Attached Image (click to enlarge)

The B wave is expected to end near 2702, suggesting that gold may move downward from this point.