Hi!
It’s clear we are witnessing a historic technical expansion. This isn't just a short-term rally; we are deep within a multi-decade Elliot Wave structure that suggests the "real" move is only just beginning.
The Macro Elliot Wave Count
The structural integrity of this chart is remarkable. After completing a massive 5-wave impulse into the 2011 high (Wave V), Gold entered a prolonged ABC corrective phase. Since the 2016 lows, the market has transitioned into a new, even larger impulse cycle.
The Current Position: We are currently navigating Wave III of this massive move. As any seasoned trader knows, the third wave is typically the longest and most powerful.
Fibonacci Confluence: The price action is perfectly respecting the Fibonacci expansion levels. We’ve seen a clean break above the 1.272 extension ($4,099), which has now flipped from a ceiling into a massive structural floor.
The Road to Wave V
The internal sub-waves are painting a very bullish picture for the next decade. Following the current localized correction (Wave IV), the projection points toward a final explosive Wave V.
Strategic Outlook
While the long-term trajectory is vertical, expect volatility at these elevated levels. The green support zone around $3,800 is the critical "must-hold" area to keep this specific wave count valid. As long as Gold stays above this base, the technical path toward $7,700 is effectively wide open. We are essentially watching the repricing of Gold in real-time as it breaks away from historical norms.
It’s clear we are witnessing a historic technical expansion. This isn't just a short-term rally; we are deep within a multi-decade Elliot Wave structure that suggests the "real" move is only just beginning.
The Macro Elliot Wave Count
The structural integrity of this chart is remarkable. After completing a massive 5-wave impulse into the 2011 high (Wave V), Gold entered a prolonged ABC corrective phase. Since the 2016 lows, the market has transitioned into a new, even larger impulse cycle.
The Current Position: We are currently navigating Wave III of this massive move. As any seasoned trader knows, the third wave is typically the longest and most powerful.
Fibonacci Confluence: The price action is perfectly respecting the Fibonacci expansion levels. We’ve seen a clean break above the 1.272 extension ($4,099), which has now flipped from a ceiling into a massive structural floor.
The Road to Wave V
The internal sub-waves are painting a very bullish picture for the next decade. Following the current localized correction (Wave IV), the projection points toward a final explosive Wave V.
- Target (The Supercycle Peak): Based on the measured move and the 2.272 extension, the ultimate target for this grand cycle sits between $7,750 and $8,400.
Strategic Outlook
While the long-term trajectory is vertical, expect volatility at these elevated levels. The green support zone around $3,800 is the critical "must-hold" area to keep this specific wave count valid. As long as Gold stays above this base, the technical path toward $7,700 is effectively wide open. We are essentially watching the repricing of Gold in real-time as it breaks away from historical norms.
🟢 Telegram channel: t.me/melikatrader94
🔴 Forex channel: t.me/melikatrader94GoldForex
🟢 ADX & DFM channel: t.me/ADXandDFM
🔴 Forex channel: t.me/melikatrader94GoldForex
🟢 ADX & DFM channel: t.me/ADXandDFM
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
🟢 Telegram channel: t.me/melikatrader94
🔴 Forex channel: t.me/melikatrader94GoldForex
🟢 ADX & DFM channel: t.me/ADXandDFM
🔴 Forex channel: t.me/melikatrader94GoldForex
🟢 ADX & DFM channel: t.me/ADXandDFM
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.