3rd Wave has extended 276.8% and this overextension did not leave room for 5th to reach its' own targets. Limited it with 100% of 1st Wave.
I don't expect HH despite nice bull attacks happening, it's sell until 78-79$.
Probably this 2089$ attack of gold has happened due to Covid-19 extremity, drifted it from the oval route. Upper extremity usually follows with lower extremity for equilibrium state and back to route as well, market is balancing itself.
In longer run it is extremely Bullish as expected. (Some of you could hate the idea, but it's perfectly fitting with EW & Fibo...
Measuring in daily TF, just ruler & guideline for swing-traders. Taking 0-1-2 as base for measuring 3-4-5.
(Sorry, removed the previous one as it said to be Daily TF but published mistakenly in Weekly)
Measuring the rally to see how next episodes could unfold. Currently 3rd wave's ending extension is happening. It will end up with double-top h&s formation, then we'll look for #4.
if #3's extension will complete at 61.8% or lower, then #5 strongly possible can suggest 10K for the final range.
Long time after its' inception, GBPJPY seems like finally trying to stand up. It won't be easy to break decades long Bearish Bias. But we will start to see stong bulls gathering in the upcoming weeks, months...
And considering JPY is a safe-haven, think about the inflation awaiting us :)
The Millennial Bull Rally seems having a contractional ending when counted in logarithmic scale.
When measured, forming -IV- require 1435$
and the -V- will hit 2257$ to end the bull rally.
I think the Gold is currently seeking basement for starting 5th wave.
In such pricing structure, we will probably hit 3k +/- on the (B) wave of the correction.
Starting from 1977 until today, it is showing the Gold's super-cycle is nearing to its' end.
It will gradually decline until 1400$ levels within next 20-25 years from the last movement.
Here I'd like to share my idea of "How" Gold could start correcting to #4'th Wave.
Current correction scheme is fitting to Double Three counting as well, check the Related Idea for it please.
Let's see how the price will unfold.
It's a birdview projection of Gold's millennial cycle through elliott-wave perspective, it's to provide you with an insight for seeing waves from a familiar PoV.
timing won't match the chart, but keep checking for the patterns and levels.
Little bit revised.
Fed's continue blur-dovish stance. Both Fed & ECB along with whales started spreading the inflation fears, so they're getting ready to buy gold and start the paused rally as Covid19 vaccinations have reached recommended levels in the EU and going fast enough in the US as well. they'll want to protect their filthy gains (from the multiplication...
Fed's continue blur-dovish stance. Both Fed & ECB along with whales started spreading the inflation fears, so they're getting ready to buy gold and start the paused rally as Covid19 vaccinations have reached recommended levels in the EU and going fast enough in the US as well. they'll want to protect their filthy gains (from the multiplication of 1:1000 and free...