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Elliott analysis on XAU/USD
Wave counts + Fibonacci projections on Gold. Elliott counts the structure of price in impulses (1-2-3-4-5) and corrections (A-B-C). Every wave has specific Fibonacci ratios that define entries and targets.
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What is Elliott Wave Theory?
Elliott counts the structure of price in impulses (1-2-3-4-5) and corrections (A-B-C). Every wave has specific Fibonacci ratios that define entries and targets.
Core concepts
- Impulse / Correction Motive 5-wave structures in the trend direction, 3-wave corrections against it.
- Validity Rules Wave 2 < 100% of 1 · Wave 3 never the shortest · Wave 4 doesn't overlap Wave 1 territory (non-diagonal).
- Fib Retracements 0.382 / 0.5 / 0.618 / 0.786 for pullbacks.
- Fib Extensions 1.272 / 1.618 / 2.0 for wave-3 and wave-5 projections.
- Primary + Alternate Count Elliott is subjective — we always give you the main count AND one alternate.
When to use Elliott on XAU/USD
Best on HTF when wave structure is clean. Avoid in choppy ranges. The framework's strength is projecting targets — its weakness is subjectivity, so we always provide an alternate count and explicit invalidation.
Example Elliott read
Primary: Wave 3 of 3 in progress · Wave 2 low at 4770 · entry at 4789 on Fib 0.5 retrace of Wave 1 · TP1 at 1.272 ext (4814), TP2 at 1.618 ext (4830). Alternate: ABC flat in B, invalidates above 4820.