Gold XAU/USD 5th wave forecast

Gold Monthly Elliott waves  :

Gold Monthly Elliott waves

Wave I Impulse: Started from Year1970 to 1980 ($33 to $893) around 2500% rose.

Wave II Correction : (Year 1980 to 1999)  from $893 to $245 around 72% decrement.

Wave III forecast : ( Year 2000 to 2025) from 245 to  2500% rise is complete around $6600

First Target is $2700 and if 5th wave extended then we may see higher levels as 5426/7100

What shall be the SL for Long ??

As we can see in chart,


Gold Xau/USD Elliott wave

Pink 4th wave of the Blue 5th wave Fibonacci 23.6% retracement @ 1860 and 38.2% at $1728.

In case if gold fall below $1860 then Max it can go up to $1728.

So Stop loss for Long shall be below $1700.


Contact for Join VIP Telegram Channel:https://t.me/UltimateForexSupport


Post a comment

0 Comments