Along with the undeniable Elliott Wave Theory, I am using the Fib Circles + Pitchfork tools to see if it will help pinpoint a specific date for Gold's anticipated reversal towards a new all-time high. Will XAU discover its true support on August 16th 22'? If not, what price target would you suggest?
Or...
Has bottom been found already and I've missed the boat!?
#SURF
Or...
Has bottom been found already and I've missed the boat!?
#SURF
Note
Let's go with August 16 - September 02 possibly:Note
Gold possibly sets up its best macro trap of the past few months. I am yet a believer that XAU XAU will drop below its previous low at $1680 before making its next major bullish move.Note
$1820-$1838 could be the next swing target before the blood flood resumes.Note
without bears sustaining a level above $1800 and the breakdown that followed, its safe to assume that i've misread a micro wave up near the top.Gold is currently in a large diagonal Wave for Wave (a) within wedge Wave 3. I suspect that 1740-1750 will return is towards 1780-1790 and that bears will respond with dragging price down to the 1715-1730 range.
Note
Note
Note
Gold's downward cycle should find conclusion as this:Note
Fluidity.Trade closed: target reached
Wavy
Decode the wave, anticipate the move. elliottwavescience.com
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Decode the wave, anticipate the move. elliottwavescience.com
Related publications
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.