moneyjeff1

moneyjeff1

Gold is about to enter its most important phase for a very long time. If it is in an impulse wave, then it will clear the $2200 to $2300 area and, longer term, target at least the $2800 level. If it fails the pink important zone, then it has been in an Ending Diagonal pattern and may correct very quickly to the beginning of it, around the $1600 level.

moneyjeff1

It looks like two alternative patterns are playing out: A final expanding ending diagonal in a 5th wave, and when diagonals do end, they target the beginning of the move very quickly. Or a B wave in a flat structure, which needs a C wave, and again, this will target the $3500 price. Both mean we will soon have an explosive ending and it will target the October...

moneyjeff1

I'm looking for a wave 4 pullback that will last several months. Then a final wave 5 taking the price to over $900. Under $600, then it would probably mean wave 5 has already completed.

moneyjeff1

I'm looking for a shorter term pullback, at least a 30% drop, in wave 1 of a final 5. Then the final wave moves should follow, over several years, to conclude at between the $300 & $560 price levels.

moneyjeff1

It looks like its in the heart of a 3rd wave in a bigger degree final 5th. It should be targeting the 85K level at the very least. The 100K seems more likely

moneyjeff1

It starting to look like 5 waves up from bottom , over 12 months ago.

moneyjeff1

It looks like 5 waves are now completing from the Jan 2023 truncated C wave low. Divergence in the RSI makes a long term top more likely as well.

moneyjeff1

It looks like we are left with two options in a bullish path. An impulse (In red) targeting the $2800 price. Or an Ending Diagonal (In black) targeting the $2300 price.

moneyjeff1

Possible Triangle in a B Wave correction. Then, maybe, setting up for a final C wave move up to $500 or more. Which would be followed by either, a final very quick 5 wave move back to 2015 low, or a more slower correction in a Y Wave back to similar levels.

moneyjeff1

If the Nasdaq fails around the pink region then it's very possible that primary Wave 3 completed in late 2021. It would need a (c) wave down to compete an A wave in a possible Flat structure. A move up after it completes, could even reach higher highs than 2021 before it gets a devastating C wave down A move under $8500 would be a great buy.

moneyjeff1

It's possible that it's approaching a significant top, around $1200 level, in an E Wave. This would be inside a B Wave triangle. It could take it down to around the $400 level.

moneyjeff1

A possible ending diagonal forming, which if correct, would mean a very fast move down towards the beginning of the digonal and would signal a long term top. Also there's lots of divergence on the rsi. This would mean excellent news for Gold and Emerging markets investors.

moneyjeff1

It looks like a possible ending diagonal which is completing a final 5th wave. This would signal a multi year bull market in the pound.

moneyjeff1

Big test for Gold coming up. Will the parallel channel hold ? Will the 38.2% level of Wave 4 Hold?

moneyjeff1

If it cannot find support soon and make another wave up to complete primary 3, then it' possible that Wave 3 competed in May. If so a trip down to $5586 or $1225 levels would be the prices to watch out for in Wave 4.

moneyjeff1

With Wave 3 not being very extended in the relation to Wave 1, it leaves the door open to extension in Wave 5.

moneyjeff1

Using Elliott Waves thurst measurements on this triangle would give a target of around 90.

moneyjeff1

Looking for a C wave to start soon, and the stochastic is looking over sold on both daily and weekly time frames.