Elliott Wave Pattern – XAUUSD Trading Plan for June 8, 2025

8 Jun

Elliott Wave Analysis

After Friday’s deep decline, price touched the level of wave 1 (black), invalidating the flat wave 4 scenario. Currently, the structure of wave 5 (black) appears to be a terminal triangle, and the sharp and steep drop afterward is consistent with post-terminal triangle behavior.

Post wave 5 completion, two possible bearish scenarios emerge:

Scenario 1: Price is forming a zigzag (abc in black). Wave c may have completed at 3305 — the first target. However, 3290 remains a significant lower target. A recovery that breaks above 3340 would help invalidate Scenario 2.

Scenario 2: Price is in a 5-wave bearish impulse. To confirm this, price must not break above 3340, as that would overlap with wave 1 and invalidate the structure. If this holds, the next key target lies below 3245.

Momentum Analysis

Daily (D1): When the market opens this week, momentum is expected to enter oversold territory — suggesting a weakening downtrend. Confirmation is needed.
H4: Momentum is already in oversold territory, indicating a potential bullish move early in the week.
H1: Also oversold. A reversal is likely during the Asian or European session, favoring Scenario 1 and a buy setup near wave c = wave a.

Trading Plan

Buy 3305 – 3302
SL: 3295
TP1: 3340
TP2: 3393

Buy 3292 – 3289
SL: 3282
TP1: 3305
TP2: 3340
TP3: 3393

9 Jun

Dagangan aktif

Trade Plan Update:
A bit unfortunate — price hit our SL at 3295, then reversed and rallied 200 pips, without touching Entry 2.

But that’s part of real trading — we move forward.
👉 Let’s look to re-enter at 3305 – 3302, team!