Gold tapped into the key demand zone and swept sell-side liquidity (SSL) beneath wave (iii) lows.
A five-wave decline appears complete, with wave (v) of b terminating just below the o.618 fib extension at 3344.86.
🟢 Wave c projection now in focus — looking for a 5-wave impulsive rally to develop.
Targeting the Sell Zone between the 0.5–0.764 retracement (3395.87–3425.07).
🧠 Structure Notes:
✅ Imbalance Zone (IMB) formed during the breakdown has now been tapped
🔻 SSL swept + bullish reaction = potential change of state
🟢 Wave (i) and (ii) projection underway – price needs to maintain structure above 3357.43 for bullish continuation
Targets: 3408.81 (0.618 Fib)
Invalidation below: 3340.31
Momentum and RSI divergence support reversal
A five-wave decline appears complete, with wave (v) of b terminating just below the o.618 fib extension at 3344.86.
🟢 Wave c projection now in focus — looking for a 5-wave impulsive rally to develop.
Targeting the Sell Zone between the 0.5–0.764 retracement (3395.87–3425.07).
🧠 Structure Notes:
✅ Imbalance Zone (IMB) formed during the breakdown has now been tapped
🔻 SSL swept + bullish reaction = potential change of state
🟢 Wave (i) and (ii) projection underway – price needs to maintain structure above 3357.43 for bullish continuation
Targets: 3408.81 (0.618 Fib)
Invalidation below: 3340.31
Momentum and RSI divergence support reversal
Note
🟢 Gold (XAUUSD) – Wave 2 Reaction | Ready for Wave 3?🕐 1-Minute Micro Count
Price has cleanly reacted off the 0.618 retracement from the wave ((1)) high, respecting the inner support structure and confirming a potential wave 2 low.
Key technical highlights:
✅ INV-FVG + Breaker confluence marked the low
✅ Change of Character (CHOCH) established post-wave ((2))
✅ Price retested the 0.5–0.618 retracement zone from the local impulse
✅ Structure now attempting to reclaim broken trendline
📍 Wave ((2)) appears complete — early signs of strength now emerging with higher low formation above 3,346.
🔁 If Bullish Structure Holds:
Wave ((3)) extension becomes the primary bias
Upside confirmation: break above wave ((b))
Target zones: 3,368–3,375, then possible move toward higher timeframe 3,400–3,420 Sell Zone
❌ Invalidation: break below 3,340
⚠️ RSI + MACD support short-term bullish view, but momentum must follow through on next push
Note
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Related publications
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.