Key Points
- Gold's latest decline has established a provisional green wave (iv) low.
- The hourly Elliott Wave count now identifies a completed A–B–C corrective sequence.
- Another upward extension is projected, with $4,148.66 remaining the continuation reference.
Gold Price: XAUUSD traded at $4,054.93 at 5:04 a.m. New York time. The hourly chart records a daily high of $4,067.03 and low of $4,026.61, against an opening price of $4,032.47.
XAUUSD Elliott Wave Analysis
Gold's corrective decline has progressed beyond the stage outlined in the November 10 Elliott Wave outlook, which anticipated further weakness toward green wave (iv).
The updated count places that wave at the recent trough, alongside purple wave (c), following the preceding (a)–(b) subdivisions.
The subsequent rebound supports a possible corrective completion. However, the blue forecast path still allows a brief pullback before renewed upside toward the yellow resistance zone and potentially beyond.
Technical Analysis for November 11, 2026
- Structure: Green wave (iv) provisionally complete.
- Resistance: Yellow-marked upper zone.
- Upside Continuation: $4,148.66.
- H1 Invalidation: Not specified.
Trader's Question: Can the previous four-hour invalidation level be applied to this hourly scenario?
No. The wave degrees differ, and the current H1 chart does not establish an explicit invalidation threshold.