Gold (XAU/USD) Analysis – 30-Minute Chart Using Elliott Waves &
🔹 Overall Trend: The market is in a corrective pullback after a strong bullish wave, currently testing a key Buy Zone.
🔹 Wave Structure: The price is forming a potential Elliott Wave correction, with a possible bullish reversal from the demand zone.
🔹 Technical Analysis:
• Buy Zone: Identified between 2,846 - 2,841, aligning with Fibonacci Naji retracement levels.
• Stop Loss (SL): Placed below 2,832, ensuring protection against further downside movement.
• Take Profit Targets (TP):
• TP1: 2,859
• TP2: 2,872
• TP3: 2,887
• TP4: 2,900
🔹 Expectation: If the Buy Zone holds, a bullish reversal is expected, with price targeting higher resistance levels. Confirmation should come from strong bullish candlestick formations.
📌 Note: Proper risk management is essential for successful trading. Always wait for confirmation before entering a trade.
🔹 Wave Structure: The price is forming a potential Elliott Wave correction, with a possible bullish reversal from the demand zone.
🔹 Technical Analysis:
• Buy Zone: Identified between 2,846 - 2,841, aligning with Fibonacci Naji retracement levels.
• Stop Loss (SL): Placed below 2,832, ensuring protection against further downside movement.
• Take Profit Targets (TP):
• TP1: 2,859
• TP2: 2,872
• TP3: 2,887
• TP4: 2,900
🔹 Expectation: If the Buy Zone holds, a bullish reversal is expected, with price targeting higher resistance levels. Confirmation should come from strong bullish candlestick formations.
📌 Note: Proper risk management is essential for successful trading. Always wait for confirmation before entering a trade.
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.