This Gold Elliott Wave Analysis reviews the current 15-minute triangle structure, offering key insights on market direction for Nov 17, 2025.
Gold Elliott Wave Analysis – Chart Overview
Gold Elliott Wave Analysis on the XAUUSD 15-minute chart highlights a corrective structure after a sharp wave 3 decline. Current price action is trading inside a contracting triangle (ABCDE), suggesting an imminent breakout as wave 4 winds down. Key support held at the 1.618 extension around 4055.89, and upper triangle resistance and Fibonacci levels (0.236 and 0.382 retracements) are capping near 4075–4100.
- Current Structure: Triangle formation for wave 4 after an impulsive decline.
- Levels to Watch:
- Resistance: 4075–4101 zone (0.236/0.382 retracements).
- Support: 4055 (1.618 ext.) and triangle lower boundary.
- Outlook:
- A clean triangle break could signal wave 5’s directional move.
- Above 4100 opens the door for a higher retrace (potentially to 4161–4180), while a break below 4055 would warn of trend continuation lower.
- Bias: Short-term neutral within triangle, turning bullish or bearish on the breakout.
