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XAUUSD Elliott Wave Analysis – 4/20/2026


XAUUSD Elliott Wave Analysis – 4/20/2026

gold OANDA:XAUUSD



Is the upswing over?

momentum

W1
– Weekly momentum remains bullish
→ Market achieves 4 consecutive weeks of gains
→ Therefore, a momentum reversal is possible within the next week

D1
– Daily motivation is declining
→ D1 is likely to enter the oversold zone next week
→ Therefore, the downward or sideways movement may continue into the beginning of the week

H4
– H4 momentum is preparing to reverse lower
→ After the weekend, the view will become clearer as soon as Monday opens
→ If landing confirmed:
→ H4 has a high probability of a downward wave

Wave Structure – W1

Wave D lasted 4 weekly candles
→ The d wave will most likely be completed on the fifth candle
→ After:
→ The decline is expected to form an e-wave

⚠️Note:
– Weekly momentum remains bullish
→ Prices may continue to rise or move sideways at the beginning of the week
→ before the actual reversal occurs

Scenario based on D1 momentum

– Daily momentum is approaching oversold territory
→ There are mainly two situations:

Scene one:
– Powerful and fast landing
→Complete wave e ahead of schedule
→ D1 enters oversold territory before rebounding

Scenario 2:
– Slow descent or sideways movement
→ Wait for D1 to enter the oversold area
→ Then a rising wave appears
→ You push the price up to the end of the week to complete wave d
→ Then it falls within the wave e

👉 Currently:
– Weekly momentum approaching overbought status/possible reversal
→ More support for the second scenario

⚠️But:
– The market may undergo unexpected changes
→ Especially given the unstable economic and geopolitical conditions
→ must be careful

H4 wave structure (detailed)

– Within wave d, it is possible to form a WXY pattern (blue)
→ Right now we may be in the final stages of the Y wave

– Internal wave Y:
→ A triangle pattern appears

– Since W and X are triangular structures → there are two possibilities for triangles:

Scenario 1 – Ending Triangle
– Structure: 1-2-3-4-5
→ The price cannot exceed 4949
→ After completion:
→ Expected to drop significantly

Scenario 2 – Triangle within B wave (ABC)
– Triangle represents B wave
→ After:
→ Price may rise strongly to complete Wave C of Y
→ Consistent with the rising momentum of D1
→ After the Y wave is completed:
→ Downtrend resumes

Conclusion and plan

– In both cases:
→ The final trend is still down

→ But:
– You must wait for confirmation of the price structure

📌Confirmation conditions:
– Price breaks through the lower boundary of the triangle
– Combine:
W1 wound
– Wound D1
– Wound H4

Important tips

– The market is currently in a sensitive area
→ Don’t rush in

→Best:
– Waiting for the market to open on Monday
– Monitor price changes
→ Then define the trading objectives more precisely



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