XAUUSD – Will ATH Diminish Gold's Value?GoldOANDA:XAUUSDBrianLionCapitalHello Traders, Gold once accounted for up to 21% of total global assets, but now this figure is only about 5%. Two perspectives are clear: Gold is gradually losing its relative importance in the financial system. The total value of global assets has surged (expanding the denominator), reducing gold's proportion, while its absolute value still plays a crucial role. Technical Analysis In today's Asian session, gold continues to set higher price marks, indicating that the upward momentum remains very strong. The ascending channel on H1 has reached the upper boundary, showing slight hesitation, but the main trend is still upward. The H1 and H4 frames maintain strong buying power, with market sentiment leaning heavily towards buyers, ready to push prices to higher levels. According to Elliott Wave, the price is currently in wave 5 (the market psychology wave). The current task is to observe the reaction when this wave completes, to prepare for the ABC correction cycle. Regarding Fibonacci, the next important resistance area is at 3880, where a bearish reaction may occur. Trading Scenario Sell (at Fibo resistance 3880): Entry: 3880 SL: 3886 TP: 3866 – 3850 – 3835 Buy (trend-following priority): Entry: 3813 – 3816 SL: 3809 TP: 3828 – 3843 – 3860 – 3878 👉 Note: Smaller frames H1 – M15 will provide additional confirmation signals to optimize entry points. Conclusion The upward trend of gold is still prioritized, wave 5 has not ended, and the scenario towards 4000 – 4050 is entirely plausible. Short-term selling at strong resistance areas can be considered, but risk management must be tight. Traders need to closely monitor support – resistance areas in smaller frames to maximize profits. Follow me for the fastest updates when the price structure changes and to further discuss scenarios in the community.