Thanks for sharing the updated chart.
Here’s a breakdown of what’s going on now:
### **Current Context (Gold Spot/USD - 1H)**:
- **Price**: $3,327.38 (down 0.47%).
- **Trend Channel**: Still in play, though the price briefly broke below the lower boundary and quickly re-entered — a potential **fakeout**.
- **Corrective Structure**: The “(W)-(X)” label suggests an **Elliott Wave corrective pattern** (likely a W-X-Y correction). The price may still be in the “X” leg moving upward before completing “Y.”
- **Key Levels**:
- **Support**: Around $3,302 (same as the previous chart’s stop-loss).
- **Resistance/Target**: $3,380 — matching the top of the previous breakout attempt.
### **Trade Setup**:
- A long position is being considered with a bounce off the lower trendline.
- Entry around $3,327–$3,331 with target near $3,380.
- Stop-loss again around $3,303 — maintaining tight risk management.
### **Interpretation**:
- The market may have completed a short-term correction and is possibly forming a higher low (if “W” holds).
- A break above point “X” would confirm bullish continuation to $3,380 or higher.
- If price breaks below “W” ($3,302), the bullish structure might fail, and deeper retracement becomes likely.
Do you want to explore a possible short scenario if the lower boundary breaks again, or are you planning to ride the bullish continuation?
NVDA 
XAUUSD XAUUSD
Here’s a breakdown of what’s going on now:
### **Current Context (Gold Spot/USD - 1H)**:
- **Price**: $3,327.38 (down 0.47%).
- **Trend Channel**: Still in play, though the price briefly broke below the lower boundary and quickly re-entered — a potential **fakeout**.
- **Corrective Structure**: The “(W)-(X)” label suggests an **Elliott Wave corrective pattern** (likely a W-X-Y correction). The price may still be in the “X” leg moving upward before completing “Y.”
- **Key Levels**:
- **Support**: Around $3,302 (same as the previous chart’s stop-loss).
- **Resistance/Target**: $3,380 — matching the top of the previous breakout attempt.
### **Trade Setup**:
- A long position is being considered with a bounce off the lower trendline.
- Entry around $3,327–$3,331 with target near $3,380.
- Stop-loss again around $3,303 — maintaining tight risk management.
### **Interpretation**:
- The market may have completed a short-term correction and is possibly forming a higher low (if “W” holds).
- A break above point “X” would confirm bullish continuation to $3,380 or higher.
- If price breaks below “W” ($3,302), the bullish structure might fail, and deeper retracement becomes likely.
Do you want to explore a possible short scenario if the lower boundary breaks again, or are you planning to ride the bullish continuation?
NVDA XAUUSD XAUUSD 
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.
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.