Gold price wave A target identification
The gold correction since 2011 can be subdivided into two consecutive distinct zones, a pressure & a release one. Within the first zone a consolidation takes place, which is next followed by a rapid drop characterizing the release zone. The principle wave A structure is of the type I-II-III-IV-V, whereby wave V is again subdivided into 5 of the type a-b-c-d-e.
Assuming equal negative yields relating waves III & V, then a value of 942 is obtained as the final target of wave A. It may be interesting to note, that a similar "pressure-release" pattern can be observed in the chart of FXY.
Assuming equal negative yields relating waves III & V, then a value of 942 is obtained as the final target of wave A. It may be interesting to note, that a similar "pressure-release" pattern can be observed in the chart of FXY.
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