Gold Elliott Wave targets
Bearish wave count:
Cycle wave b is complete. Top is in.
Short term target $1303
Long term target: 1045 an below
Bullish Wave count:
Short term target: $1390 end of wave IV
Keeping eye on all TA.
Bearish wave count:
Cycle wave b is complete. Top is in.
Short term target $1303
Long term target: 1045 an below
Bullish Wave count:
Short term target: $1390 end of wave IV
Keeping eye on all TA.
Thank you. Do you think the top at ~1700 was the top of B? If so, what are your thoughts on C being somewhat equal to A and A(down from ~1900) took a few years to complete…which would mean we have few years of down action still ahead? And silver completing the C now bottoming ahead of gold by a few years? Hope I’m making sense. Thanks!
Correct $1700 is top at Wave b. But if c=a than gold could be as low as 500. However all it need is somewhat below cycle wave a to avoid truncation at some Fib level.
Bullish wave count is also valid. Now wave iv is unfolding.
Bottomine is both wave counts see correction from here.
Haven’t posted Sam’s EW views in a long while given the antagonistic responses I get to that type of T/A here.
But he is now of the view that gold hasn’t topped yet. The spike reversal and crash waves were 1 up and 2 down of an ending diagonal.
My view … as an addon … silver is not in the same camp, and that divergence is telling.
Neither are the miners. So an ED for gold if it pans out would be quite telling. ED’s suggest weakness in an advance.
Thanks for sharing.
What is ED?
Ending Diagonal
I’m confused.
Elliott Wave does that