In this analysis I have found a strong elliot wave patter on the hourly chat of gold. I have followed this pattern up to the final impulse wave and believe that there will be an increase of 130 pips. I think this because I have seen the trend pay respects to a fairly strong support after correction wave 4 and have also analysed the correction wave to be 50% of wave 3. This is a common percentage for wave 4 in elliot wave theory. My TP will be set 20% above wave through because due to fib retractments of wave 1-3 and up coming news about china trades I believe that price action will increase.