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Gold, Premium Forecast Update

Gold, Premium Forecast Update

Gold just rose to $1272.42 so far after being trapped in a consolidation for about three weeks. Could this breakout be predicted? Could we explain it with some economic or geopolitical factors? Probably, yes. But what would be the point? The move has already happened, we cannot profit from past developments. Besides, finding the reasons behind the current rally will not help us predict the next move. The question is, is there a method, which allows us to make accurate forecasts, before it is too late, so we could position ourselves for the next moves? Yes, such method exists. It is called the Elliott Wave Principle and, by the way, we used it to predict Gold’s current strength. On February 29th, our premium clients received the following chart.(some of the marks have been removed for this article)
gold 4-hour 29.2.16 triangle
As visible, we were expecting waves d) and e) of a triangle correction to form, before the bulls return. The explanation, attached to the chart, stated that “buying opportunities should emerge after the end of wave e). In this case, the stop-loss order should be right below the bottom of wave c), while the target lies near $1270.” The next chart shows how gold has been developing during the week.
gold 4.3.16 4h
Waves d) and e) developed just as planned. Soon after the end of the latter, the bulls finally returned and took the price of gold to $1272.42 so far. This is another excellent example of the Elliott Wave principle’s ability to prepare traders for what is most likely to happen early enough for them to be able to take advantage of it. But the more aggressive among our premium clients were able to trade even inside of the triangle, since we sent them a closer look at it. See it below.
gold 30m 29.2.16
By using nothing more than the Fibonacci ratio, we assumed wave d) should end around $1247, while wave e) was likely to approach somewhere near $1221, before the uptrend resumes. The next chart shows how things went.
gold 30m 4.3.16
Wave d) terminated at $1248.48, almost exactly where the Fibonacci ratio predicted, while wave e) found support at $1224.70 and gave the start of the anticipated rally to our final target of $1270. Why do we trust the Elliott Wave principle? This article speaks for itself. Judging from the extraordinary accuracy of that analysis, we believe the Wave principle has gained our clients’ trust as well. Why do not you give it a chance to earn yours too?

What to expect from now on? Is gold going to continue even higher or the resistance near $1275 would turn out to be too strong for the bulls to breach? Prepare yourself for whatever is coming. Order your on demand Elliott Wave analysis now or pre-order the one due out next Monday at our Premium Forecasts section. Stay ahead of the news in any market with the Elliott Wave principle.

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   2 thoughts on “Gold, Premium Forecast Update
  1. Hi, I would like to share my views on Gold. Here my triangle and your triangle matches exactly. I 100% agree with that. Whereas on your abc as b) which you have marked at the bottom of the impulsive waves, I might have different thoughts. Based on my count, your wave ” a ” is x of wxy pattern of wave 2 in my count.Its a double zigzag connected by flat pattern in wxy. The impulsive waves started on 3-4th dec 2015 is wave 1 and wave 2 formed in the form of wxy and my wave 2 ended exactly @ your b. And your c wave is sub wave (i) of 3rd wave for me and the pull back after your c wave is my (ii) of 3rd and triangle is (iv) of 3rd and now I expect v of 3rd followed by 4th and 5th waves before we see correction for the whole impulsive waves started on 3rd dec 2015.
    I tried my best to convey my thoughts through words. Please let me know if you would like to see my chart with main /subwaves. I would be happy to share it with you. Thanks
    On the other side, your website design looks so attractive than your earlier version.Good work.

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