Gold completes a correction within bullish trend [Video]

Gregor Horvat Wavetraders

Gold made another sharp leg to the upside in first half of April, even showed some accelerating price action away from the 3,000 level. This suggests it might have been part of wave three when looking at the Daily, so there can be more upside within a much more extended impulse structure.

XAU/USD daily chart

In the 4-hour chart, it’s possibly already on the way higher after blue wave four consolidation shows first signs of a bottom near 3120. Notice that pullback from recent high is in three legs, while price recovered out of wave (C) channel, so looks like new recovery is in the cards.

XAU/USD four-hour chart

For a detailed view and more analysis like this, you may want to watch below our latest recording of a live webinar streamed on May 19 2025:

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Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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