Here's an example of how you could trade in Gold

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I saw a notice on TradingView about a new competition where participants could conduct paper trades using real-time data. I immediately thought of you, my readers, because if I could present you with one example of how to approach trading in Gold, it might be of considerable interest to a vast majority of you.

So, the date was November 10, 2025, and I looked at the charts for Micro Gold futures with the symbol MCG1. The current price was $4109. Here is the first chart.

As you can see, I am presenting you with an Hourly chart of Gold. On the left, you have the two green lines, connecting what could ostensibly be the ending points of wave A and Wave B. Why am I calling it a Wave A, and not Wave 1? It is because that leg seems to be composed of three sub-waves. The 123.6% projection was observed at $4131 (green horizontal line near the top). I then shifted my attention to the sub-waves of Wave C. As you all know from my book “Five Waves to Financial Freedom”, all C waves are made up of 5 sub-waves! This time, I used teal-colored lines to differentiate the focus; otherwise, there will be too many green lines, and it will only add to the confusion :) }

You can see that a 161.8% projection for minor wave 3 inside sub-wave C landed it at $ 4,124, which was not too far from the $ 4,131 level we discussed in the paragraph above. Assuming minor-wave 3 actually ends there, I drew a standard Fibonacci grid from the bottom of minor-wave 2 to the anticipated end of minor-wave 3. I identified $ 4,088 as the first retracement target for minor wave 4. So I said to myself, “I will want to be long at $4,088, so I will place a limit-buy order at $4,089.” I put these thoughts on the chart, as a record, and saved the image in a folder, for use in this newsletter, for your benefit. But before we proceed, I would really love to see your appreciation of all that I teach you by visiting the sponsor, Money . com, and they might have some interesting things for you to read as well! Click on the link below!

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Returning to my Gold futures idea, it is not enough to merely have good analysis. We need to execute the plan in order to make money. And then, like most traders, I changed my mind, and decided that I don’t want to wait for the last tic to buy. Why not split the position into two lots, one at 4095 and another at 4084, and I will be done for at least one of them! Sure enough, my first order at $4,095 was executed in due course. The stop for both the lots was placed at $4,058.

You can see from the chart above that I have determined the tiny 5th wave to end at $4082. I have also drawn a downtrend line in blue.

Now, most traders want the P/L to show green immediately after they put on a position. Unfortunately, that is not how the world works! As you can see, I have an unrealized loss of $70 here.

And you can check where Gold Futures went thereafter. The high was around $4,250. What does this prove to you? I think it tells us that with careful planning, patience, and with the knowledge you gained of Elliott Waves, and of course, with some luck, there is money to be made from the market. Why don’t you check out my online course at https://elliottwaves.com?