Gold Spot ( GOLD ) (March 2022)
I believe there could be a running flat in the larger degree of the corrective wave (yellow ABC.) I am definitely not certain that any of these wave counts are even correct as I am still trying to learn more from very limited resources to do so, but I believe there are not enough wave degree classifications to distinguish beyond supermillenium degree, so you will see 2 different degrees represented as supermillenium here. Yellow could be called "supermillenium*2" since I believe it is a higher degree than the supermillenium ABC waves I have marked in cyan as well as the other WXY waves in green.
I believe there is also a regular flat (cyan) in a smaller degree at the top of the B wave of the larger degree running flat (yellow.)
If this is truly a regular flat, there are a few things that I would expect at the current phase of my wave analysis.
Wave B (90% retrace of wave A) may be capable of reaching approximately $2,020 - $2,050 before making a reversal to the downside. If my wave and timeframe analysis is correct, I would expect that price to be reached by the latest of May 2022 or perhaps as soon as end of March 2022.
Wave C can be anywhere from 61.8% - 100% retrace of waves AB. If that's the case I believe a low of $1,535/oz and as low as $1,212/oz would be achieved.
On higher timeframes, I see my moving average indicators slowly creeping up on my price levels of $1,385 by around the same time I expect a low to occur. I would expect those prices as well if things start moving down too fast, and this would also become the level I would expect to see some sort of reversal as far as I can consider right now.
I believe if a reversal is confirmed, this crash could continue from mid-2022 into September 2023 at the latest, but I could expect a complete retrace by October or December 2022 if more markets start to follow suit before then.
On August 9th 2021, there was a sharp price drop that printed a wick down to $1,681, which I believe is a "clue/hint" that prices will re-visit those levels again after upper targets are achieved first. I believe this can be used as a confirmation to other aspects of my analysis.
Once the suspected regular flat completes, I believe the pattern could turn into some sort of double three, but that is entirely unsubstantiated at this moment until I can fully confirm the flat.
If we are considering a higher degree of flats, I believe the larger "supermillenium*2" degree could either be a running flat or it could turn into an expanded flat, meaning a deeper move than $1,200-$1,500 prices and something more akin to $1,000. I believe that's a much lower probability and would only happen if the gold situation/manipulation is really more dire than I think. If it somehow drops to $700 or lower, new EWT will need to be considered for sure as the entire structure of this chart would change, but I wouldn't be surprised if it could be possible.
I think the next guess I can make after this is that price of gold could possibly increase to $2,300-$2,700 levels any time after 2025, but I suspect closer to 2027-2035. As always, it will be interesting to see what "historic" events will occur until then.
Beyond this, I am still watching and making new considerations when I can. I will continue to try to keep my ideas updated!
Previous charts I've built coming to these conclusions:
Thanks for tuning in :) Disclaimer, anyone in the trade needs to do their own due diligence and decide what is right for YOU. My charts can be wrong at any time and it's very important that you have your own strategies and plans in place. I run this channel for my own educational purposes of learning to trade, and I will never be 100% right, so please do not let me confirm any bias for you! (Dangerous to do so, stay safe and remember the basics & rules of risk assessment.) Expect the unexpected and happy trading!
I believe there could be a running flat in the larger degree of the corrective wave (yellow ABC.) I am definitely not certain that any of these wave counts are even correct as I am still trying to learn more from very limited resources to do so, but I believe there are not enough wave degree classifications to distinguish beyond supermillenium degree, so you will see 2 different degrees represented as supermillenium here. Yellow could be called "supermillenium*2" since I believe it is a higher degree than the supermillenium ABC waves I have marked in cyan as well as the other WXY waves in green.
I believe there is also a regular flat (cyan) in a smaller degree at the top of the B wave of the larger degree running flat (yellow.)
If this is truly a regular flat, there are a few things that I would expect at the current phase of my wave analysis.
Wave B (90% retrace of wave A) may be capable of reaching approximately $2,020 - $2,050 before making a reversal to the downside. If my wave and timeframe analysis is correct, I would expect that price to be reached by the latest of May 2022 or perhaps as soon as end of March 2022.
Wave C can be anywhere from 61.8% - 100% retrace of waves AB. If that's the case I believe a low of $1,535/oz and as low as $1,212/oz would be achieved.
On higher timeframes, I see my moving average indicators slowly creeping up on my price levels of $1,385 by around the same time I expect a low to occur. I would expect those prices as well if things start moving down too fast, and this would also become the level I would expect to see some sort of reversal as far as I can consider right now.
I believe if a reversal is confirmed, this crash could continue from mid-2022 into September 2023 at the latest, but I could expect a complete retrace by October or December 2022 if more markets start to follow suit before then.
On August 9th 2021, there was a sharp price drop that printed a wick down to $1,681, which I believe is a "clue/hint" that prices will re-visit those levels again after upper targets are achieved first. I believe this can be used as a confirmation to other aspects of my analysis.
Once the suspected regular flat completes, I believe the pattern could turn into some sort of double three, but that is entirely unsubstantiated at this moment until I can fully confirm the flat.
If we are considering a higher degree of flats, I believe the larger "supermillenium*2" degree could either be a running flat or it could turn into an expanded flat, meaning a deeper move than $1,200-$1,500 prices and something more akin to $1,000. I believe that's a much lower probability and would only happen if the gold situation/manipulation is really more dire than I think. If it somehow drops to $700 or lower, new EWT will need to be considered for sure as the entire structure of this chart would change, but I wouldn't be surprised if it could be possible.
I think the next guess I can make after this is that price of gold could possibly increase to $2,300-$2,700 levels any time after 2025, but I suspect closer to 2027-2035. As always, it will be interesting to see what "historic" events will occur until then.
Beyond this, I am still watching and making new considerations when I can. I will continue to try to keep my ideas updated!
Previous charts I've built coming to these conclusions:
Thanks for tuning in :) Disclaimer, anyone in the trade needs to do their own due diligence and decide what is right for YOU. My charts can be wrong at any time and it's very important that you have your own strategies and plans in place. I run this channel for my own educational purposes of learning to trade, and I will never be 100% right, so please do not let me confirm any bias for you! (Dangerous to do so, stay safe and remember the basics & rules of risk assessment.) Expect the unexpected and happy trading!
