Is the peak of Wave 5 already complete @ $1600? Are we now about to witness $XAUUSD's retracement forming Wave A-B-C? Possible in the coming months @ $1275.
Using Elliott Wave Theory, I see 1,626 as a target price based on monthly chart. The length of Wave 1 is 186 and Wave 3 is 284. If we will use Wave 1 as the reference for the length of Wave 5, the approximate target price for for this Wave will be around 1,626 and up.