24th March:
Projecting for the Primary waves and the top of Cycle V..
When Cycle V completes the target of the lower order 4th is at about $1050 or a 50% retrace.
From 23rd March:
This monthly chart of the spot price for gold reviews the progress of the Supercycle and questions the probability call of the previous post. The view of a mid-wave transition for the extension of Primary wave [3] is not only typical behaviour for the 3rd wave but it also resolves the lack of correlation with XAU/GBP. Accordingly it is now expected that a replication of the pattern since [2] should emerge when this transition concludes.
Links:
A good site for learning about the Elliott Wave theory.
My method of wave numbering:
From 17th March:
This daily view of XAU/USD is with highest probability of announcing the commencement of Primary wave [5] on completion of which is expected the end of Cycle wave V and thereby the end of the first Supercycle for the supposedly free float of gold since 1971. Accordingly it is considered that this prospectively awesome event should become the focus of all astrology and fortune telling.
Unfortunately this pattern for XAU/USD is seen to be some months ahead of XAU/GBP, which is presently quite awkward to fathom and unavoidably distracting.
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