Gold Spot
If we attempt to measure with Elliott's wave theory the gold price rise, we could say that the (5) wave of the 5/ wave is bounded in the region of 2450.
This is because when we have an extension of the 3/ wave, then probably the 5/ wave is equal to the 1/ wave.
So, if our measurement is accurate, the 4/ wave has ended with an acute correction in the region of 50% in Fibonacci ratios, and it lasted 51 months, unlike the 2/ wave whose correction was flat in the region of 74% in Fibonacci ratios, and it lasted 239 months.
An analysis will follow at a shorter timeframe.
This is because when we have an extension of the 3/ wave, then probably the 5/ wave is equal to the 1/ wave.
So, if our measurement is accurate, the 4/ wave has ended with an acute correction in the region of 50% in Fibonacci ratios, and it lasted 51 months, unlike the 2/ wave whose correction was flat in the region of 74% in Fibonacci ratios, and it lasted 239 months.
An analysis will follow at a shorter timeframe.
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The negative element is the triple top and the million-dollar question is whether it will afford to break it, combined with the fact of the negative divergence at the two peaks of the DPO indicator.Not
Gold Spot : Weekly timeframe analysisNot
Gold Spot: DailyNot
In a flat correction abc we do not expect wave c to spread beyond wave a (at least not much). Not
Alternative idea: long position after 1935 area breakoutNot
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Alternative scenario based on triple top.....Not
If this scenario prevails, which is very likely, then we will see this precious metal, after a big bullish run since 1978, enter a deep correction and when this happens, we see it go deep, up to 61.8% from the top, which is in the 710 to 820 area.Not
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In short term: Crucial price 1955Not
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İşlem kapandı: hedefe ulaştı
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Wave b/ has probably ended and wave c/ has started to unfold (?):Not
This scenario seems to be emerging ....Not
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In case the FED and the ECU have completed the cycle of interest rate hikes, then the correction in Gold will be deeper.Not
As the wave 2 unfold, the a/b/c/ correction seems to be a sharp correction. That makes the target of the 3rd red arrow verry possible (AB=CD=100%) Not
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An ABC potential reboundNot
It seems that bulls are back again. Invalidation was broken up. Long positions with tight stop loss are suggested.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.