Trading Plan for Gold USD Using Elliott Wave and Fibonacci

This trading plan combines Elliott Wave analysis with Fibonacci retracement and extension levels, focusing on key psychological points to guide entry, exit, and risk management decisions for the Gold/USD 1-hour chart.

Fibonacci Levels & Psychological Zones:
Wave 3 is approaching a Fibonacci extension zone near 3,558 - 3,616 (from 3.618 to 4.618 levels). This acts as a key resistance and potential Wave 3 target.

The retracement for Wave 4 correction is expected to land within the important Fibonacci retracement zones:
- 38.2% (~3,472)
- 50% (~3,449)
- 61.8% (~3,426)

These Fibonacci levels serve as psychological support zones where Wave 4 could end and Wave 5 might begin.