Elliott Wave View: XAUUSD (Gold) Has Ended Correction and Turned Higher

Elliottwave_Forecast

Short Term Elliott Wave view in Gold (XAUUSD) suggests rally from 11.14.2024 low is unfolding as a 5 waves impulse. Up from 11.14.2024 low, wave (1) ended at 2721.41 and pullback in wave (2) ended at 2583.21 as the 1 hour chart below shows. The metal has turned higher in wave (3). Up from wave (2), wave (i) ended at 2626.41 and pullback in wave (ii) ended at 2586.82. Index has resumed higher in wave (iii) towards 2633.29 and pullback in wave (iv) ended at 2608.05. Final leg wave (v) ended at 2639.14 which completed wave ((i)) in higher degree.

Pullback in wave ((ii)) unfolded as a double three where wave (w) ended at 2611.28. Wave (x) rally ended at 2628.12 and wave (y) lower ended at 2595.91. This completed wave ((ii)) in higher degree. The metal has resumed higher in wave ((iii)) towards 2665.33 and pullback in wave ((iv)) ended at 2614.36. Expect the metal to finish wave ((v)) higher soon and this should complete wave 1 of (3). It should then pullback in wave 2 to correct cycle from 12.19.2024 low (2581.9) before turning higher again. Near term, as far as pivot at 2581.92 low stays intact, expect dips to find support in 3, 7, or 11 swing for more upside.

XAUUSD (Gold) 60 Minutes Elliott Wave Chart

$XAUUSD Elliott Wave Video

Source:https://elliottwave-forecast.com/news/elliott-wave-view-xauusd-gold-turned-higher/

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Up from 11.14.2024 low, wave (1) ended at 2721.41 and pullback in wave (2) ended at 2583.21 as the 1 hour chart below shows. The metal has turned higher in wave (3). Up from wave (2), wave (i) ended at 2626.41 and pullback in wave (ii) ended at 2586.82. Index has resumed higher in wave (iii) towards 2633.29 and pullback in wave (iv) ended at 2608.05. Final leg wave (v) ended at 2639.14 which completed wave ((i)) in higher degree.</p>\n<p style=\"text-align: justify;\">Pullback in wave ((ii)) unfolded as a double three where wave (w) ended at 2611.28. Wave (x) rally ended at 2628.12 and wave (y) lower ended at 2595.91. This completed wave ((ii)) in higher degree. The metal has resumed higher in wave ((iii)) towards 2665.33 and pullback in wave ((iv)) ended at 2614.36. Expect the metal to finish wave ((v)) higher soon and this should complete wave 1 of (3). It should then pullback in wave 2 to correct cycle from 12.19.2024 low (2581.9) before turning higher again. Near term, as far as pivot at 2581.92 low stays intact, expect dips to find support in 3, 7, or 11 swing for more upside.</p>\n<h2>XAUUSD (Gold) 60 Minutes Elliott Wave Chart</h2>\n<h2></h2>\n<h2>$XAUUSD Elliott Wave Video</h2>\n<p></p>\n<video poster=\"https://community-static.tradeup.com/news/df81211b19a7ed090f318f5656e71aa6\" tg-width=\"1920\" tg-height=\"1080\" class=\"ql-video\" controls=\"true\" controlslist=\"nodownload\" playsinline=\"true\" webkit-playsinline=\"true\">\n <source src=\"https://1254107296.vod2.myqcloud.com/8a1ed91dvodsgp1254107296/f7d943aa1397757901571331259/JvkgrbAeAnEA.mp4\">\n</video>\n<p>Source:https://elliottwave-forecast.com/news/elliott-wave-view-xauusd-gold-turned-higher/</p></body></html>","htmlText":"<html><head></head><body><h2></h2>\n<p style=\"text-align: justify;\">Short Term Elliott Wave view in Gold (XAUUSD) suggests rally from 11.14.2024 low is unfolding as a 5 waves impulse. Up from 11.14.2024 low, wave (1) ended at 2721.41 and pullback in wave (2) ended at 2583.21 as the 1 hour chart below shows. The metal has turned higher in wave (3). Up from wave (2), wave (i) ended at 2626.41 and pullback in wave (ii) ended at 2586.82. Index has resumed higher in wave (iii) towards 2633.29 and pullback in wave (iv) ended at 2608.05. Final leg wave (v) ended at 2639.14 which completed wave ((i)) in higher degree.</p>\n<p style=\"text-align: justify;\">Pullback in wave ((ii)) unfolded as a double three where wave (w) ended at 2611.28. Wave (x) rally ended at 2628.12 and wave (y) lower ended at 2595.91. This completed wave ((ii)) in higher degree. The metal has resumed higher in wave ((iii)) towards 2665.33 and pullback in wave ((iv)) ended at 2614.36. Expect the metal to finish wave ((v)) higher soon and this should complete wave 1 of (3). It should then pullback in wave 2 to correct cycle from 12.19.2024 low (2581.9) before turning higher again. Near term, as far as pivot at 2581.92 low stays intact, expect dips to find support in 3, 7, or 11 swing for more upside.</p>\n<h2>XAUUSD (Gold) 60 Minutes Elliott Wave Chart</h2>\n<h2></h2>\n<h2>$XAUUSD Elliott Wave Video</h2>\n<p></p>\n<video poster=\"https://community-static.tradeup.com/news/df81211b19a7ed090f318f5656e71aa6\" tg-width=\"1920\" tg-height=\"1080\" class=\"ql-video\" controls=\"true\" controlslist=\"nodownload\" playsinline=\"true\" webkit-playsinline=\"true\">\n <source src=\"https://1254107296.vod2.myqcloud.com/8a1ed91dvodsgp1254107296/f7d943aa1397757901571331259/JvkgrbAeAnEA.mp4\">\n</video>\n<p>Source:https://elliottwave-forecast.com/news/elliott-wave-view-xauusd-gold-turned-higher/</p></body></html>","text":"Short Term Elliott Wave view in Gold (XAUUSD) suggests rally from 11.14.2024 low is unfolding as a 5 waves impulse. Up from 11.14.2024 low, wave (1) ended at 2721.41 and pullback in wave (2) ended at 2583.21 as the 1 hour chart below shows. The metal has turned higher in wave (3). Up from wave (2), wave (i) ended at 2626.41 and pullback in wave (ii) ended at 2586.82. Index has resumed higher in wave (iii) towards 2633.29 and pullback in wave (iv) ended at 2608.05. Final leg wave (v) ended at 2639.14 which completed wave ((i)) in higher degree. Pullback in wave ((ii)) unfolded as a double three where wave (w) ended at 2611.28. Wave (x) rally ended at 2628.12 and wave (y) lower ended at 2595.91. This completed wave ((ii)) in higher degree. The metal has resumed higher in wave ((iii)) towards 2665.33 and pullback in wave ((iv)) ended at 2614.36. Expect the metal to finish wave ((v)) higher soon and this should complete wave 1 of (3). It should then pullback in wave 2 to correct cycle from 12.19.2024 low (2581.9) before turning higher again. Near term, as far as pivot at 2581.92 low stays intact, expect dips to find support in 3, 7, or 11 swing for more upside. 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