Elliott Wave Analysis – XAUUSD Trading Plan | June 2, 2025

🌀 Current Wave Structure

On the H1 timeframe, wave 2 (black) appears to have completed as a zigzag pattern, with price reacting strongly after touching the 3272 level — signaling that the abc corrective wave (green) may be finished.

Zooming into the M10 timeframe, the recent rally shows a 5-wave leading diagonal, indicating that wave 1 (red) is complete.
Currently, price is in the pullback phase of wave 2 (red).

📍 The ideal correction zone for wave 2 (red) is around 3281, which is our key area to look for Buy opportunities.
However, if price breaks below 3272, this wave count becomes invalid, and we’ll wait for a new setup aligned with deeper correction.

🔋 Momentum Outlook

• D1: Momentum is preparing to turn bullish ⇒ supports the start of wave 3 (black) and a bullish outlook for the week
• H4: Momentum is bottoming and about to reverse ⇒ supports wave 3 (red) forming in upcoming sessions
• H1: Currently declining ⇒ expect early-session pullback. Watch for bullish reversal signals as long as 3272 holds for potential entries

✅ Trade Setup

🎯 BUY ZONE: 3282 – 3279
🛑 Stop Loss: 3272

🎯 Take Profits:
• TP1: 3308
• TP2: 3324
• TP3: 3346

⏳ Note: Price action around the 3272–3281 zone will be key to confirming whether wave 2 (red) is complete.
If confirmed, wave 3 could begin with strong momentum — especially after breaking above 3296.