hadi_a_hobballah

Current Trend: Gold is in a strong uptrend across multiple timeframes, confirmed by breakouts and higher highs and lows.Buy Strategy: Look for buying opportunities as long as the 30-minute chart maintains its bullish structure:Wait for Bullish BOS: Look for a bullish Break of Structure (BOS) on the 30-minute chart to confirm continuation.Stay Above 20 MA: Ensure the price remains above the 20-period Moving Average (MA) on the 30-minute chart.Signal for Deeper Correction:Breakdown Below 20 MA or BOS 30 min down: If the 30-minute price closes below the 20-period MA, it may signal a deeper correction. Watch for further lower highs (LH) and lower lows (LL) for confirmation of a trend reversal.

Gold is currently in Wave 3 on the monthly chart, showing an uptrend. On the weekly chart, there are three consecutive Doji candles indicating indecision, which could potentially lead to the start of Wave 4 (not confirmed yet). This suggests possible consolidation on the daily chart between $2,470 and $2,525, while also noting the presence of a bull flag pattern that I am monitoring for a potential breakout.On the 4-hour timeframe, an ABC corrective wave is forming, with bearish targets at the 61.8% Fibonacci level at $2,470, and further down to the 78.6% and 88.5% levels. There is also confluence with a breaker block and Fair Value Gap (FVG) at 2470 level.On the 30-minute chart, I am currently looking for a short position targeting the $2,470 area at any corrective wave on shorter timeframe .And If this area holds and I see any bullish candlestick patterns, I will start buying gold.

Daily Timeframe 📅🔍 Trend: Gold has been in a strong uptrend, recently pushing into a key resistance zone above 2500.Elliott Wave: Currently in Wave 3.💡 Key Levels:Resistance: 2,510 (recent high). Watching for targets at 2,550 (161.8% Fib extension) and possibly 2,700.4-Hour Timeframe ⏰🚀 Trend: The bullish trend continues, with a recent breakout above an ascending triangle. The price is now pulling back to key support zones.💡 Key Levels:Support: Area around 2,471 (FVG, breaker, and 50% Fibonacci confluence).30-Minute Timeframe 🕒🔄 Wave Structure: Currently in subwave 4 of a larger Wave 3. We’ve completed waves A and B, and are now forming wave C.💡 Key Levels:Fibonacci Support: Area around 2,472 (61.8%), aligning with higher timeframe confluence.📊 Scenarios:Bullish: If the price bounces from the 50% or 61.8% retracement levels, expect a rally toward 2,550 as Wave 5 targets the 161.8% Fib extension.Bearish: Failure to hold the 61.8% level could lead to a deeper pullback, but this would likely be a buying opportunity as we prepare for Wave 5.🎯 Overall Summary:Gold remains in a bullish trend but is currently in a corrective phase. I'm looking for buying opportunities around the 50% retracement level on the daily chart or the FVG/confluence zone on the 4-hour and 30-minute charts. My target is the resistance zone around 2,550, with a potential move up to 2,700 in the longer term.Disclaimer: Trading involves risk. This analysis is not financial advice. Trade at your own risk.

Elliott Wave Pattern:The chart shows a corrective Elliott Wave pattern (A), (B), and (C) for a larger move, and now we are in the subwave of B.We are currently in the final (C) of the (C) wave, indicating a possible downward movement after its end.Change of Character:We had a Change of Character that indicates the start of wave C.Drawing a Fibonacci retracement to the first wave of wave C, we see confluence with a Fair Value Gap (FVG) at the 50% level of this wave and the first wave high.This area could be a potential point to long if the price is rejected from it, aiming for the last high then the last high of the bigger wave B, which is the 61% retracement of wave A.Rejection from the 61% retracement may lead to a double top formation to continue the downtrend in the higher timeframe.Current Trend:The price is currently testing the 2391-2392 level, which may reverse down to the 50% retracement level of the first wave of wave C.Key Levels:Resistance: $2,403.00, $2,412.71, $2,428.46Support: $2,377.00, $2,367.00, $2,358.17Disclaimer:This is not financial advice.We purchased at 50% for $2,3585 and closed at $2,400. The next downside must be reevaluated due to geopolitical problems.

Current Market Status:Current Price: $2,386.61Time Frame: 30-minute chartTrend: Currently in a short-term uptrend but showing signs of potential correction.Chart Pattern and Projections:Pattern Formation: The chart indicates an Elliott Wave formation, projecting a potential ABC correction.Wave (A): The initial downward movement seen recently.Wave (B): The current upward correction, likely reaching the 0.382 or 0.5 Fibonacci levels of the first wave. However, the corrective sub-wave (B) within Wave (B) is likely to reach the 61% Fibonacci level, which aligns with the order block.Wave (C): Expected downward move towards the last order block and potentially breaking it down to complete Wave (C), potentially reaching $2,348.57 or lower.Fibonacci Retracement Levels:0.382: $2,376.320.5: $2,371.880.618: $2,367.44 (Key confluence with order block)0.786: $2,361.12Key Support and Resistance Levels:Support Levels:$2,371.88 (Fibonacci 0.5)$2,367.44 (Fibonacci 0.618)$2,361.12 (Fibonacci 0.786)$2,348.57 (Major support level)Resistance Levels:$2,388.89 (Immediate resistance)$2,421.40 (Next significant resistance)Volume Analysis:Volume remains consistent, with noticeable increases during significant price movements, indicating high trader interest at these levels.Summary:Gold (XAU/USD) is currently in a potential Elliott Wave correction phase. The price is in an upward retracement (Wave B) but may face resistance at key Fibonacci levels before continuing the downward trend (Wave C). Traders should watch for confirmation at these levels and manage their positions accordingly.Stay tuned for further updates and always consider additional fundamental factors and current market news to complement this technical analysis. Happy trading!We purchased at 50% for $2,371.88 and closed at $2,400. The next downside must be reevaluated due to geopolitical problems."