The chart illustrates the recent price movement of Gold against the US Dollar (XAU/USD) on a 4-hour timeframe, with an Elliott Wave analysis overlay. As of April 12, 2025, gold is trading at $3,237.93, showing a steady upward trend.
The Elliott Wave count suggests that the market has completed the first two major impulsive waves ((I)) and ((II)), followed by a five-wave structure currently unfolding in wave (III). The sub-waves of (III) are progressing well, with waves 1 and 2 already completed and wave 3 underway.
The sharp rise in price from the recent low near $2,950 to over $3,230 indicates strong bullish momentum, supporting the idea that wave 3 is accelerating. If this Elliott Wave count holds, we can expect further upside, potentially reaching the $3,500–$3,700 range as wave 3 of (III) extends.
This setup reflects a classic bullish Elliott Wave structure, signaling continued investor confidence in gold amidst market uncertainties. However, as always, traders should remain cautious of potential corrections (wave 4) and keep an eye on key support levels.
The Elliott Wave count suggests that the market has completed the first two major impulsive waves ((I)) and ((II)), followed by a five-wave structure currently unfolding in wave (III). The sub-waves of (III) are progressing well, with waves 1 and 2 already completed and wave 3 underway.
The sharp rise in price from the recent low near $2,950 to over $3,230 indicates strong bullish momentum, supporting the idea that wave 3 is accelerating. If this Elliott Wave count holds, we can expect further upside, potentially reaching the $3,500–$3,700 range as wave 3 of (III) extends.
This setup reflects a classic bullish Elliott Wave structure, signaling continued investor confidence in gold amidst market uncertainties. However, as always, traders should remain cautious of potential corrections (wave 4) and keep an eye on key support levels.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.