XAUUSD (H4) — Kelly’s Gold MapGoldOANDA:XAUUSDKelly_Koou_Gold Elliott 5-wave structure is setting up the next surge, but the clean entry is at liquidity On the H4 timeframe, price action is aligning well with a bullish 5-wave Elliott impulse. The market has already delivered a strong expansion leg (wave (3)), and the current move is best read as a wave (4) corrective phase. The key point: wave (4) is often not a reversal. It’s typically the reset leg — a pullback that rebalances, taps liquidity, and clears weak hands before the market attempts wave (5). What the broader structure is saying The market remains in an advancing structure; the pullbacks so far look more like “pauses” than a trend break. EMA200 sits well below around 4,976, keeping the medium-term bias firmly in trend-following mode (favoring buys) rather than trying to fade strength. This decline is better treated as a “meeting point” where price can return into a liquidity pocket and rebuild demand before pushing higher again. Liquidity zone in focus (Buying price range) The area to watch sits around 5,193 → 5,091. It’s wide enough for the market to sweep and absorb orders before choosing direction. This zone is technically attractive for a wave (4) completion because: it’s a natural area where buyers often step in defensively it offers room for a liquidity sweep before a clean reversal signal forms if the trend is still healthy, price often reacts inside this pocket without needing a deeper breakdown Primary scenario: complete (4), then launch (5) If price trades into 5,193 – 5,091 and shows any clear “holding” behavior (one signal is enough), such as: strong lower-wick rejection inside the zone a sweep below and a reclaim back above ~5,193 a break of the minor bearish structure (taking out the last lower high) and closing back with strength → then the probability increases that wave (4) is finishing and wave (5) is starting. Targets based on the Elliott structure If wave (5) develops as expected, the market can rotate toward: the prior peak area and a re-test of ATH ~5,595 and if trend-following acceleration kicks in, an extended objective can point toward ~6,180 In wave (5) environments, price often moves faster and offers fewer “perfect pullbacks,” which is why this corrective window matters most. Invalidation (risk discipline) Elliott only works as long as the structure holds. If: price closes decisively below 5,091 (especially if it breaks cleanly and fails to reclaim) → the wave (4) pullback-to-launch thesis weakens materially. The higher-quality decision at that point is to step aside and wait for a fresh structure to form. Kelly’s Gold Map takeaway Gold remains biased to the upside on the medium-term trend, but the real edge is not chasing the run — it’s waiting for price to return into liquidity. The best plan is patience: allow the market to test 5,193 – 5,091, wait for confirmation, then participate in wave (5) — rather than forcing entries in a sensitive zone.