XAUUSD Elliott Wave Analysis – OANDA:XAUUSD Published by WavePoint_FX on March 31, 2026 — TradingView

momentum

– Momentum on the daily frame (D1) has not yet confirmed a reversal
→ Prices may continue to trade sideways or rise
→ Until there is clear confirmation of the reversal

– H4 momentum is currently declining
→ It may take 1-2 additional H4 candles to reach oversold territory
→ Then a bottom may form on the H4 frame

– Momentum is declining in the first half
→ Prices may continue to fall or move sideways
→ Until H1 reaches the oversold zone and starts to reverse upward

Elliot wave structure

– On frame D1:
→ Since bearish reversal is not confirmed
→ Wave 4 is likely still underway
→ But it’s nearing the final stage
→ After completion, a decline may occur, forming a fifth wave

– On H4 framework:
→ The 4th wave of horizontal development
→ May be WXY or triangle pattern

→H4 momentum shows signs of compression and is preparing for reversal
→ This indicates that the uptrend is continuing

→ The price broke through the 4600 mark and broke through the previous high
→ This eliminates the situation where wave 5 starts
→ Confirmed that wave 4 is still extended

– On H1 frame:
→ After the price reaches the 4600 area, a reaction begins

→ Main liquidity area 4502 is considered important support
→ When the momentum of H4 and H1 is ready to reverse
→ If the price approaches this area, an upward rebound may occur

→ In WXY correction structure:
→ The target is near 4758, Y wave = W wave
→ Larger liquidity area converges at 4730
→ This area may represent the end of Wave Y and Wave 4

trading plan

Buying area: 4503 – 4501
Stop Loss (SL): 4477
Take Profit 1 (TP1): 4600
Take Profit 2 (TP2): 4730