Fibonacci Confluence Fuels Gold’s Next Rally: Wave (Y) Insight

5 May

This 4-hour chart of XAU/USD is showcasing a WXY corrective pattern, a classic double zigzag (W)-(X)-(Y) correction after a strong impulsive move
Wave (W) has topped, marking the end of the first corrective leg.
A deep correction into the 0.5 Fibonacci retracement level occurred with wave (X), forming a potential higher low within the red demand zone.
Now, wave (Y) is anticipated, which typically mirrors or slightly exceeds the length of wave (W) but in a more corrective format.

Target 1: 3292.629
Target 2: 3372.161
Stop loss: 3201.955

6 May

İşlem kapandı: hedefe ulaştı

6 May

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