Technical analysis by ElliottWaveFxMajors about Symbol PAXG: Buy recommendation (2/18/2025)

As seen in the chart, I'm tracking a potential Wave 4 triangle forming in gold. The price action has respected the A-B-C-D-E structure so far, suggesting that consolidation might be nearing completion before a breakout into Wave 5.However, if the price breaks above Wave D's high prematurely, this would invalidate the triangle and suggest that Wave 4 already ended as a running flat, meaning we may already be in the early stages of Wave 5.Key Levels to Watch:🔹 Resistance: [D-wave high] – The triangle scenario is invalid if the price breaks above this level without completing Wave E.🔹 Support Zone: [Green highlighted area] – Holding above this would strengthen the case for a triangle breakout.🔹 Invalidation: A strong impulse below the support zone could indicate a deeper correction instead of Wave 5 beginning.If the triangle holds, we could see one more touch of support before Wave 5 extends higher. Otherwise, the market may already be heading up in a more aggressive move.Which scenario do you think will play out? Drop your thoughts below!