Hello fellow traders,
In this technical article, we are going to present Elliott Wave charts of GOLD (XAUUSD) . As our members know we are long in GOLD from previous equal legs area. As a result, members are enjoying profits in risk-free positions. Recently ,the commodity completed its intraday correction at the Equal Legs zone. In the following sections, we will explain the Elliott Wave count.
GOLD 1-Hour Elliott Wave Analysis (March 10, 2025)
The current view suggests XAUUSD has completed a 5-waves pattern in the cycle from the 2832.2 low. GOLD is now forming a wave ((ii)) black correction. The price shows an incomplete sequence in the decline from the peak. This suggests more short-term weakness. We expect an extension toward the extreme zone at 2889.59–2871.89. At that zone buyers should re-enter, which could lead to a further rally. We recommend that members avoid selling gold.
Official trading strategy on How to trade 3, 7, or 11 swing and equal leg is explained in details in Educational Video, available for members viewing inside the membership area.
GOLD Wave Count: Correction Toward Equal Legs Buying Zone
GOLD Follow-Up Analysis (March 13, 2025)
The commodity made another leg down toward the Equal Legs area and found buyers, as expected. XAUUSD is now showing a solid rally from the buying zone. The price has broken to new highs. This confirms further upward extension, provided the pivot at the 2832 low holds.
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