Gold Spot / U.S. Dollar
Long
Updated

Wave Structure & Key Zones

213
The 15-minute chart shows a clear impulsive wave structure currently developing, with price action potentially forming a wave 4 correction within a projected 5-wave bullish sequence.

✅ Wave Structure:

Waves (1) and (2) are already completed after a consolidation phase.

Wave (3) shows a strong bullish breakout with increased momentum.

Price is now pulling back into what appears to be wave (4), approaching a dynamic support zone marked by the ascending white trendline.

A potential wave (5) projection is in place, aiming toward Fibonacci extension targets around 3,288 and 3,310.

🟩 BUY INTEREST ZONE:

The area between 3,227 – 3,235 acts as a strong confluence zone, aligning with:

A short-term ascending trendline.

The lower boundary of previous structure.

Midpoint of the last bullish impulse.

🔴 SELL INTEREST / TARGET ZONES:

Projected area for wave (5):

First target: 3,288 (138% Fibo extension).

Second target: 3,310 – 3,316 (150% Fibo and extended wave objective).

📌 Conclusion:
As long as price holds above the white trendline and within the expected wave (4) retracement zone, the bullish continuation scenario remains valid. A breakdown below this zone would invalidate the wave count and require reassessment.
Trade closed: target reached

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