Gold - still bullish. Already in wave iii of 5 targeting 3200+ ?

3 Şub

Gold is now trading higher than the previous ATH at the end of October 24 and is still within the rising channel.
This might already be subwave iii of 5 targeting the 3200+ area later this year.
That could then mark the end of this bullish trend.

8 Şub

Not

This could already be the end of wave iii of 5 at the 1.618 extension, but I'd prefer the extension to the 3000$ area followed by a 5% correction and a final move to 3200$ for the long term top where I'll consider going short for many years.

11 Şub

Not

almost there, target 299X this week

14 Şub

Not

double top, maybe the end for wave iii of 5

24 Şub

Not

slightly higher but losing steam

9 Mar

Not

wave iv of 5 could be completed and now going for the 3200 area in May/June

13 Mar

Not

this could be wave (3) of v of 5 of (V)

14 Mar

Not

reached the psycological level of 3000$ and printing a doji on the daily:


Could this be the top ? Certainly, but the wave count and MACD suggest there is more upside in these uncertain times.

20 Mar

Not

Seems like wave (3) is completed:

22 Mar

Not

As an alternative, you can count waves (I),(III) and (V) as three wave moves.
This pattern could already be completed:

25 Mar

Not

added the missing fib levels at the top:


really would not surprise me if we are at or close to the very top. These fib retracement levels fit perfectly:

28 Mar

Not

orange was my target for wave 5 = wave 1.

1 Nis

Not

left the channel (since 2023) to the upside, close to the 3200$ target:

6 Nis

Not

If that was the top, this could be the new trend:

9 Nis

Not

5 waves down, 3 waves up for 0.618 retracement. Should go down from here.

13 Nis

Not

Price went further in a channel that has been established a month ago and reached the 3200$ target:


On GLD a perfect daily doji in red has been created:

17 Nis

Not

Went even further in another channel. This should be the top if the wave count is correct

22 Nis

Not

Got another extension, push it to the extreme, out of the green channel, out of the red and now out of orange. Looks like a top to me, but who knows

22 Nis

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