Gold will move to 2800

18 Agu

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.

20 Agu

Catatan

Now the SL have been moved to 2497