Long Term GOLDEN Road !
Updated
Gold price has been always in center of attentions ! What will be the road map of the gold in long term ?
Gold has started it's ascending journey when it was decided for it's price to be determined by free supply and demand market in 196-70 decade.
Since then it's long term up trend has started with the first up going wave termination at around 200 and it's corresponding correction down to 100.
After end of this correction on Aug 1976 a new larger both in price and time up going wave ( with same wave degree ) started which is still in progress and will push up the gold price above 2000 and more accurately to 2158-2477 target zone. This large size up going wave has been beautifully subdivided to 5 legs forming a classic example of impulsive Elliott waves and we are currently in wave 5 of this wave.
Our target price which is strong resistance zone obtained by cluster of Fibonacci levels related to wave 5 target analysis. This zone is formed by 1.272/ 1.618 extension of circled wave 4 and 0.618/0.786 projection of circled wave 1-3.
After hitting the target and completion of the about half of century up going wave a considerable correction will start which can push down the gold price to around 1200 USD ! After this large correction, final ascending wave up to new ATH will show it's great and maybe complicated move. This will be the end of larger degree impulsive wave started from it's free price trade ! Few people can even imaging how disastrous might be the following fall !!!
Please note this is monthly time frame analysis which means it does not consider daily or even weekly fluctuations in gold price . Every candle in the chart is one month so as I mentioned in first paragraph of this publication, this is GOLD ROAD MAP ! and can not be used for short term or even mid term trades.I also have to add this is most probable scenario which means there are of course, some alternatives.
Good luck and wish you Golden moments.
Gold has started it's ascending journey when it was decided for it's price to be determined by free supply and demand market in 196-70 decade.
Since then it's long term up trend has started with the first up going wave termination at around 200 and it's corresponding correction down to 100.
After end of this correction on Aug 1976 a new larger both in price and time up going wave ( with same wave degree ) started which is still in progress and will push up the gold price above 2000 and more accurately to 2158-2477 target zone. This large size up going wave has been beautifully subdivided to 5 legs forming a classic example of impulsive Elliott waves and we are currently in wave 5 of this wave.
Our target price which is strong resistance zone obtained by cluster of Fibonacci levels related to wave 5 target analysis. This zone is formed by 1.272/ 1.618 extension of circled wave 4 and 0.618/0.786 projection of circled wave 1-3.
After hitting the target and completion of the about half of century up going wave a considerable correction will start which can push down the gold price to around 1200 USD ! After this large correction, final ascending wave up to new ATH will show it's great and maybe complicated move. This will be the end of larger degree impulsive wave started from it's free price trade ! Few people can even imaging how disastrous might be the following fall !!!
Please note this is monthly time frame analysis which means it does not consider daily or even weekly fluctuations in gold price . Every candle in the chart is one month so as I mentioned in first paragraph of this publication, this is GOLD ROAD MAP ! and can not be used for short term or even mid term trades.I also have to add this is most probable scenario which means there are of course, some alternatives.
Good luck and wish you Golden moments.
Note
Triangle break out !!!Note
A closer look to our GOLDEN road.
Note
Gold is reaching to our predicted target zone. Lets review the idea.🤗🤗🤗Note
Goes toward predicted target !
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