{"id":15566,"date":"2023-06-17T17:21:13","date_gmt":"2023-06-17T15:21:13","guid":{"rendered":"https:\/\/investmentbell.com\/?p=15566"},"modified":"2023-06-17T17:38:33","modified_gmt":"2023-06-17T15:38:33","slug":"gold-favoring-three-waves-correction-up-then-resuming-downtrend","status":"publish","type":"post","link":"https:\/\/investmentbell.com\/hy\/analysis\/commodities\/gold-favoring-three-waves-correction-up-then-resuming-downtrend\/","title":{"rendered":"Gold: Favoring Three Waves Correction Up Then Resuming Downtrend"},"content":{"rendered":"<p>Hello Traders<\/p>\n<p>I will make an update about gold<\/p>\n<p>we did A wave with 5 impulse down, as you can see wave 4 wave triangle breakout then gold made a massive rally to 1968 high on Friday.<\/p>\n<p>From Elliottwave perspective, breaking out from triangle means it&#8217;s wave 4 formati0n, and we made a low @ 1925 which is wave 5. When we make 5 waves down, we should make 3 waves correction up that can extend to 2004 &amp; 2020+\/- fib levels. Confirmation a break above 1985 wave 4 growth level. The correction phase will be ABC also as wave B green, followed by final leg down as wave C that should be lower than 1925. Bearish correction can extend to 1917 1907 1870 psychological levels.<\/p>\n<p>Invalidation for this scenario a break above historical high.<\/p>\n<p>For time being, this is my favorite scenario. Should any change take place, I will make an update ASAP.<\/p>\n<p>Trade safe, manage your risk properly.<\/p>\n<p>Enjoy your weekend.<\/p>\n<div class=\"rate-now\"><span id=\"rate-mypost15566\"><\/span> <span id=\"rate-points\"> 4.8<\/span><\/div><div style=\"opacity:0.5;\" id=\"rate-ratings\"> <\/div>\n\t\t\t<script type=\"text\/javascript\">jQuery('#rate-mypost15566').raty({\n\t\t\t\thalfShow : true,\n\t\t\t\thalf: true,readOnly: true,score: 4.825,\n\t\t\t\tpath: \"https:\/\/investmentbell.com\/wp-content\/plugins\/userpro-rating\/images\/\"\n\t\t\t\t});<\/script>","protected":false},"excerpt":{"rendered":"<p>Hello Traders I will make an update about gold we did A wave with 5 impulse down, as you can see wave 4 wave triangle breakout then gold made a massive rally to 1968 high on Friday. From Elliottwave perspective, breaking out from triangle means it&#8217;s wave 4 formati0n, and we made a low @ [&hellip;]<\/p>","protected":false},"author":187,"featured_media":15567,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[28],"tags":[],"class_list":{"0":"post-15566","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-commodities"},"_links":{"self":[{"href":"https:\/\/investmentbell.com\/hy\/wp-json\/wp\/v2\/posts\/15566","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/investmentbell.com\/hy\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/investmentbell.com\/hy\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/investmentbell.com\/hy\/wp-json\/wp\/v2\/users\/187"}],"replies":[{"embeddable":true,"href":"https:\/\/investmentbell.com\/hy\/wp-json\/wp\/v2\/comments?post=15566"}],"version-history":[{"count":0,"href":"https:\/\/investmentbell.com\/hy\/wp-json\/wp\/v2\/posts\/15566\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/investmentbell.com\/hy\/wp-json\/wp\/v2\/media\/15567"}],"wp:attachment":[{"href":"https:\/\/investmentbell.com\/hy\/wp-json\/wp\/v2\/media?parent=15566"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/investmentbell.com\/hy\/wp-json\/wp\/v2\/categories?post=15566"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/investmentbell.com\/hy\/wp-json\/wp\/v2\/tags?post=15566"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}