🌟 Gold on the Rise 📈

1 déc. 2023

Gold is currently the talk of the town, and for good reason. Having closed above $2,000 for the first time in a month, it's on its way to a new All-Time-High.
From the all time high V, it corrected with a flat, an overarching ABC subdivided into a 3-3-5 structure. After forming a triple bottom around $1,618, it surged to $2,070, marking our Wave (5) and the start of a new Wave I.

Following a double zigzag within a triangle, a breakout to the downside occurred, and catching that zone perfectly back then led to a 13% increase. Even though the (2) is relatively short, I still believe it's a valid (2). Now, I anticipate breaking beyond, heading towards the 261.80 Fibonacci level, possibly bouncing briefly, retracing to our old All-Time-High at $2,080.

From there, we should build a new Wave (5) and III. This wave shouldn't be too short, considering the length of Wave 1.
The timing of the reversal isn't certain yet, but I'll keep you updated and send a limit order when the time comes. 🚀✨