Gold will move to 2800
Last week gold completed its 4th wave expanded triangle which E wave forming a complex "abcde" as depicted in the picture.
This is valid according to wave theory that E wave of triangle or Y wave of complex correction could extend into another set of "abcde" pattern, each leg containing 3 waves.
Price move to new all time high confirms the completion of expanded triangle and now it should move t 2800 where it is 1.618 fib from previous 2011 high.
As I said before in previous idea, as long as price is above 1.382 fib around 242x, it should find its way to 1.618 fib.
Invalidation point: 2450
1st Target: 2530-2550
2nd Target: 2650-2670
Last Target: 2790-2810
See also my previous idea below.
Note
Now the SL have been moved to 2497
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