Previously I posted a reading where I said gold was to go a bit down before is went up. But Gold didn't go down, and went straight up.
But it did go up right :D
Right now I strongly believe gold is in a wxy correction.
And I think will finish the y-wave i the green box area somewhere between 3,147 and 3,077, which is the 100-123% fib-level of the w-wave.
The reason I believe this, is at that timewise the y-wave will here have taken as long as the w-wave, and I the price is heading for that cyan median line. And normally price will also go to the bottom and a bit below of the Kennedy line.
Multiple factors are pointing to that level.
When price hits that level, I believe we will see a 5th level to the upside where 4,000 definitely is in play.
I will include a link to a higher degree reading, where you can see I believe gold has finished a third wave, so we still need a 5th wave to the upside.
But it did go up right :D
Right now I strongly believe gold is in a wxy correction.
And I think will finish the y-wave i the green box area somewhere between 3,147 and 3,077, which is the 100-123% fib-level of the w-wave.
The reason I believe this, is at that timewise the y-wave will here have taken as long as the w-wave, and I the price is heading for that cyan median line. And normally price will also go to the bottom and a bit below of the Kennedy line.
Multiple factors are pointing to that level.
When price hits that level, I believe we will see a 5th level to the upside where 4,000 definitely is in play.
I will include a link to a higher degree reading, where you can see I believe gold has finished a third wave, so we still need a 5th wave to the upside.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.