🚨 GOLD (XAU/USD): The "Make or Break" Setup
The charts are flashing a critical signal. We are currently navigating a complex corrective structure on Gold. Let’s break down the technicals shown in the charts below. 👇
📉 The Bearish Context (Short-Term)
The price was rejected firmly at the Zero Trend Level ($5,014). As long as we trade below this level, the local trend favors the bears. We are currently forming a corrective Wave C downwards, seeking liquidity.
🧱 The "Golden" Buy Zone
I am NOT buying at current prices ($4,880). The risk-to-reward ratio is not ideal here.
Instead, I am patiently waiting for a test of the Dynamic Trendline Support (the purple line on the chart).
- Watch Zone: $4,630 – $4,670
- Why? This area aligns with the Fibonacci support and the channel bottom.
🎯 The Targets (If Support Holds)
If we get a confirmed bounce from the support zone, the bullish cycle resumes with aggressive targets:
1. Mid-Term: Reclaim $5,014 ➡️ Target $5,371.
2. Long-Term (Macro): The charts suggest a potential cycle peak at $6,645. 🚀
⚠️ Risk Management
The Risk Zone is defined at $4,530. A weekly close below this level invalidates the bullish Elliott Wave count.
Patience pays. Let the market come to our levels.