🔔🏄 Gold Goals Revised: Pending ATH @ $2300-$2700
Being one of those instances were a few micro level invalidations reverberates throughout both short-term and long-term analysis, I've adjusted my Gold (
XAUUSD
) wavemap a bit. On my last shared idea, I was under the impression that Gold would make a big stretch upwards through the middle range of the $2000s before meeting its next considerable resistance level however, re-checking the count from last year's bottom near $1620 I am led to believe differently. I have cancelled the last idea and shared this one under a new thread due to drastic differences in mid-micro wave expectations.
It seemed that a XAU route to $17xx was off limits but with a likely correction soon to come, $1800 may be the minimally expected correction level, making it very possible that Gold could slip into the $178x-$179x range before finding its ground again. Some believe that a $3K ticket could come for XAUUSD in the years ahead, based on the technicals, I am doubtful of this outcome. Instead, considering the already developed internals of the pink wave structure, $2298-$2442 are very much within the expected range based on common fib levels. To also consider the length of the apparent Wave A move in yellow, if Wave C were to match this length, we could see a maximal price tag near $2696.
The observed RSI divergence should continue to remain tru as commonly seen in Wave 5 (when compared to Wave 3). I suspect that the $2298-$2696 price tag could be reached between 2025 and 2026 though timing is always tricky to accurate gauge. Surf well :)
XAUUSD
) wavemap a bit. On my last shared idea, I was under the impression that Gold would make a big stretch upwards through the middle range of the $2000s before meeting its next considerable resistance level however, re-checking the count from last year's bottom near $1620 I am led to believe differently. I have cancelled the last idea and shared this one under a new thread due to drastic differences in mid-micro wave expectations. It seemed that a XAU route to $17xx was off limits but with a likely correction soon to come, $1800 may be the minimally expected correction level, making it very possible that Gold could slip into the $178x-$179x range before finding its ground again. Some believe that a $3K ticket could come for XAUUSD in the years ahead, based on the technicals, I am doubtful of this outcome. Instead, considering the already developed internals of the pink wave structure, $2298-$2442 are very much within the expected range based on common fib levels. To also consider the length of the apparent Wave A move in yellow, if Wave C were to match this length, we could see a maximal price tag near $2696.
The observed RSI divergence should continue to remain tru as commonly seen in Wave 5 (when compared to Wave 3). I suspect that the $2298-$2696 price tag could be reached between 2025 and 2026 though timing is always tricky to accurate gauge. Surf well :)
Comment:
The 5ith sub-wave of Wave 5 has yet to complete for Gold. According to the structure and levels of the micro-waves, it should reach minimally towards $2018 before the correction begins to take form.
Comment:
Expected macro correction levels are generally unchanged.
Comment:
Varying degrees of resistance sit between $2030 and $2060. I am doubtful that buyers will be able to force price action above this range and will once again start to look for short entries here.
Comment:
Considering last night's price action, XAU has lost upside support in the nearby region and a return to $1800 should now be confirmed to be underway.
Comment:
We'll soon see if the trend is truly our friend...
Comment:
Potential triangle wave spotted. Unless Gold breaks below the red line, it can be assumed that a higher push into the $2000s will come.
A triangle wave signifies increased probability that the current trend (up) is soon to end.
A triangle wave signifies increased probability that the current trend (up) is soon to end.
Comment:
If the trend is your friend.
Comment:
Surfers are gonna play the double top looking move…
Comment:
It seems that my previous idea of Gold hitting $2050-$2060 was correct (and the other idea which was posted after it, was not).
Sub-wave 5 within the bigger Wave 1 move should now be concluded. Wave 2 should retrace back to the level of $1830. This is a common fib based target however, depending on the correctional wave type, support could be found above 10% higher than $1830. In either case, the bears should strike from the $2050-$2060 range.
Sub-wave 5 within the bigger Wave 1 move should now be concluded. Wave 2 should retrace back to the level of $1830. This is a common fib based target however, depending on the correctional wave type, support could be found above 10% higher than $1830. In either case, the bears should strike from the $2050-$2060 range.
Comment:
Due to the observed fractal wave in the final 5th wave of this segment, Wave 5 must be longer than Wave 3. Expect to see $2073 at minimum before Bears officially arrive to the party.
Comment:
Seems like Gold is still waiting on the last pump up to $2073ish. Expect heavy shorts to activate from there.
Comment:
Lowering upside target to $2500, but Gold should first fall below $1900 at some point in February.
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This information is mentioned in the text above as well however, this graph puts a better visual on the idea. Surf well.