Long

GOLD-GLD-Initiate-BUY-Cycle Wave 3

Updated

Initiate: BUY

Gold has completed Cycle Wave 1 and Cycle Wave 2.

Cycle Wave 3 is now beginning (Based on GLD Chart)...

Cycle Waves:

Cycle Retrace: 50%

Days: 1583
Draw-down: 46.47%

Daily Chart: Primary Wave Forming

Sub-Waves:

Extension Trigger:

Targets:
Near-Term: 6 days
Near-Term: $117-$120
Near-Term Extension: $120-$124

Primary Wave estimated to last between 364 and 448 days based on Fib time

Will update.

-AB

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Target Hit.

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Looks like it wants to move higher...

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Just changed Wave count characters for easier viewing...

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$119 is a key level to break...

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After $119, then $124 level will trigger a higher degree extending wave....

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If $124 breaks then it would trigger an extending 3rd Wave...

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Key Level = $119.55

If the key level is broke it will trigger an extending 5th Wave...

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GLD price-action looks good.

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5th Wave Extension has been triggered.

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We are in Primary Wave 5...

Primary Wave 5 is extending...

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GLD is forming a HUGE Bullish Leading Diagonal....

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GOLD is set for a MAJOR BREAKOUT!

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Near-Term Target = $130.00

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I do not see any major pullback until we approach $140-$150 Levels.

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Gold heading straight to $130!

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Looks like I got a dislike...

If you do dislike please leave a comment on WHY?

Appreciate the feedback...

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GLD still on track for $130...

Stay the course...

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SPX vs. GLD

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Also, puzzled how I could get a dislike when the Analysis already hit its target...

But, I digress...

Probably still lurking too...

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Redo Analysis...

Added Trend Lines

Added Sine Wave

Added Wave Counts

Added SPX

Added Spirals

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GOLD GOLD GOLD!

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Analysis Target Hit.

Will update with new idea shortly.

Trade closed: target reached

FibMarketWatch

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