Gold (Elliott Wave Analysis)

Hello everyone. hope all are doing great

Good day to you EW and the rest here!

Good Sir. Yes we are fine but I have been waiting for your update on your trade set up for today

Yes Boss we are good, where have you been today.

So far soo good. 4093 will hold or going to break. Let's wait and see

Short at 4083 with respective stop

I’m following your lead where is your take profit

14 min red news
good entry EW

Tomorrow let's trade btcusd. If volatile is good

Tp sir?

Waves are changing the target dynamically. Right now market trying to breakout. So, you manage to close with any indicator signals

Guys, focus on south side. Gold going to fall eventually.

Thinking about TP 4047 then buy, or you think even lower?

4010

I will give you entry. Exit on your side. Please don't ask me TP again.

1. The latest 1-hour candle closes around $4,072.
2. Price is hovering just below a short-term resistance (~$4,080) and above a support zone (~$4,040).
3. Momentum is weak: no strong bullish breakout yet (based on recent price action and chart check).

Scenario A – Bullish setup

1. Entry: If the next 1-hour candle closes above ~$4,080 → consider a long.
2. Stop-Loss: ~$4,060 (just below nearby support).
3. Target: ~$4,100–$4,120 (near next resistance zone).

EW is being kind to share his work, try to figure out on your own without asking, your own target price for profit. If you look at the NY open at 7:00 am eastern time to 7:30 and draw a line from open at 7:00 to a new line at 7:30 am on a 30 minute candle. Then you can create a rectangle box between the two prices that will tell you what direction NY will go. If it breaks the low of 7:30 rectangle its going to re visit the lows of the day and in this case the week. If it breaks the high of the rectangle box you have created its going to go to higher until it reaches some resistance levels from Asia or London markets. When EW took the short he will hold until the lows come into play. If you do not choose to do this you can use the rectangle box you created to take some of your profit off and keep the rest running. The direction today in NY open has been long when it broke the 30 minute rectangle at 4050.42 going up. I have been trailing it since 7:30 am NY time with three futures positions.


I gave you the gold spot price so you can work backwards and figure it out. Future prices are different. But the same rules apply.
Look at silver prices when trading gold. They can run together like wild dogs.

How to create the box and how to use it

Sending my best to those of you who traded gold today. The only way to benefit from this market is to continually analyze the market structure and always use risk management!

I place only three position trades a day from the opening of the 7:00 am to 7:30 NY market. If it breaks out of the 30 minute rectangle I follow with a trailing stop.If long, I use a stop on the lower line of the 30 minute candle generated by the two lines I mentioned above. If short, the opposite. When my stops are hit I close off trading for the rest of the day.

I am old but wise to realize you can improve your market psychology by gaining confidence in your own work and not relying on others to feed you.

Have a good weekend all !

Liquidity sweep inside the channel is normal. It can be recent higher high. Last time also did the same 107 hit and dropped further. Still bear target not yet over. So, I will be careful. I never share the stoploss and take profit.

4120 also inside the channel. Going there or not. Depends on the sellers stoploss and volume. In my experience. This is very uncommon to give. Hope to the losers.