Hello traders. As our members know, we have had many profitable trading setups recently. In this technical article, we are going to talk about another Elliott Wave trading setup we got in GOLD. The commodity has completed its correction exactly at the Equal Legs zone, also known as the Blue Box Area. In this article, we’ll break down the Elliott Wave Forecast and explain the logic behind the trading setup in detail.
GOLD Elliott Wave 4 Hour Chart 05.12.2025
The pull back looks incomplete at the moment. The price action suggests that GOLD is still doing a correction in the form of a double three (WXY) structure. We expect another leg down toward the 3136.56 area, where we are looking to re-enter as buyers. As the main trend remains bullish, we anticipate at least a three-wave bounce from the Blue Box area. We recommend members avoid selling GOLD. Once the price reaches the 50% Fibonacci retracement against the red X connector, we’ll make the position risk-free by moving the stop loss to breakeven and booking partial profits.
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GOLD Elliott Wave 4 Hour Chart 05.12.2025
GOLD has made another wave down and completed 7 swings pattern at the Blue Box area. The commodity found buyers as expected, making decent bounce. Consequently, any long positions from the Blue Box should now be risk-free. We’ve set our stop loss at breakeven and have already secured partial profits.
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