Forecasting the 5th wave with Elliot Wave .
Distance from start wave 1 to end wave 3, then using the golden ratio of 0.618 we can find the length of wave 5.
Add to bottom of the 4th wave, and you have a very likely terminal level of wave 5.
3th wave:
from $682 to $1920 (increase of $1238)
5th wave:
from $1046 to at least 0.618 fibonacci of around $2075 (minimum target reached)
If the length of the 3th wave would be equal to the length of the 5th wave then the target would be $2284 ($1046 + increase of $1238).
But I think we will see a Fifth-Wave extension impulsive move in gold. 5th wave extensions are not common.
Statistic says that in 90% of the time wave extensions occur in wave 3, but I think in gold the extension will be in wave 5.
I think it's likely gold will rise to $2354 (0.786 fibonacci) and maybe even be extended to $2710 (1 fibonacci).
Distance from start wave 1 to end wave 3, then using the golden ratio of 0.618 we can find the length of wave 5.
Add to bottom of the 4th wave, and you have a very likely terminal level of wave 5.
3th wave:
from $682 to $1920 (increase of $1238)
5th wave:
from $1046 to at least 0.618 fibonacci of around $2075 (minimum target reached)
If the length of the 3th wave would be equal to the length of the 5th wave then the target would be $2284 ($1046 + increase of $1238).
But I think we will see a Fifth-Wave extension impulsive move in gold. 5th wave extensions are not common.
Statistic says that in 90% of the time wave extensions occur in wave 3, but I think in gold the extension will be in wave 5.
I think it's likely gold will rise to $2354 (0.786 fibonacci) and maybe even be extended to $2710 (1 fibonacci).