GOLD (XAUUSD) – Intraday Wave (5) Projection
On the 15‑minute chart, GOLD (XAUUSD) continues to grind higher within the current impulse, with price now working through wave (5) of this sequence. Wave (4) has reacted cleanly from support, holding above the prior wave (1) high at 4419.837, which keeps the impulsive structure in GOLD (XAUUSD) intact and validates the immediate bullish bias.
Using the length of wave (1) as a guide, the main intraday targets for wave (5) in GOLD (XAUUSD) come in at the 1.000 and 1.236 extensions, sitting roughly in the 4,497–4,515 zone, while an extended move could stretch toward the 1.618 level near 4,539. As long as price stays above the wave (4) low and the rising trendline on GOLD (XAUUSD), dips on lower time frames are treated as opportunities to join wave (5), with caution warranted as those Fibonacci objectives are approached where profit‑taking and a larger corrective pullback are likely.
Join the discussion