In the coming future, I believe there will be a huge recession WORLDWIDE. Probably the worst one & Gold will be one of the best if not the best assets to invest in & trade.
Practically every nation is in debt; look it up. The government has debt, people have debt, but this debt keeps on being covered up. For example, debts like student loans, personal debts, mortgage debts, credit card debts, it all adds up. When debts aren't paid, who pays it? What you think Banks and them man do? naahhh. I'm telling you. A collapse is coming.
In case gold follows the 2RR movement rule, the target price may be exactly where you indicated it. I agree with your analysis.
UnknownUnicorn2215917
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@meszaros, Thank you for your opinion. I'm going to disregard the 4th-5th wave of the Elliot wave structure, because the main focus is the strong bullish moves that I believe will take place now. As most traders know, the 2nd-3rd Wave is usually the largest and based on how Gold has developed over time, it's now broken out of this "long exhaustion" if you like. Based on the 2RR movement rule, that further confirms my idea that Gold will make a measured move higher.
In case gold follows the 2RR movement rule, the target price may be exactly where you indicated it. I agree with your analysis.