Took me quite some time to build this up but the result shows a very clean sceanrio here ! Everything tends to correspond between each different timeframe and so the forecast is even more likely to occur. It shows that on the biggest timeframe, gold has made it's 5 wave impulse and is now retracing in 2 impulses. The first have been completed and we clearly see it confirmed by multiple timeframe sinewave signals. We're now working on the corrective wave of this rectacement ( the A to B wave ). Which normally plots as ZigZag and tends to be the case here. Looks like we've made the first impulse of our sub ZigZag ... working on the corrective wave (that appears to be a barrier triangle on daily chart ). The next move should be a 3 wave bullish impulse reaching out to 100-127% extension of the previous wave. Completing this will give us our B point of major count that we will the sell for the second corrective wave of the monthly corrective count. It can seem messy... but hold on, zoom in and take the time to read ! You'll have much clearer sight of what would be about to come ;)
Hope this idea will inspire some of you ! I'm pretty new to TradingView so I'ld appreciate any like/follow if you feel like it deserve it ;) You can check my indicators via my TradingView's Profile : @PRO_Indicators
Looking at the 4th chart seems as though your predicting gold to be at 675ish by 2020??. I understand this projection was done in June, it's broken 1241 and is now touched the 1204 level. Where do you think next?
PRO_Indicators
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@bsapps, Waves projections have not necerely been ploted with defined timing.. just to give a forecast of the wave structure expected.. Of course all this will need to be precised ongoing.
Anyway at the moment I still think we're correcting to search wave II and move upward. Just need to flush out the short term sellers. I'm watching this thing closely
UnknownUnicorn909211
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@PRO_Indicators, I agree we will be heading upwards. Just need the correction we are experiencing. People on trading view were saying USDJPY was heading to 99.9 when it began to fall back in April and it only went to 108 and now look. People's predictions are very extreme. Gold will be going up end of July