WaveTrack International

Elliott Wave Financial Price Forecasting

Ratio and Proportion Study – Gold November ’12 – January ’13

by m.tamosauskas| January 22, 2013 | No Comments

Back in 6th of November ’12 the forecast for gold prices was: ‘Shorter-term, minute wave b’s advance from 1672.50 is itself unfolding into a smaller three wave zig zag, [a]-[b]-[c] (not pictured) with interim upside targets for minuette wave [a] completing towards 1733.35. A temporary retracement decline to follow but holding above 1672.50 as wave [b] but then a final advance for wave [c] to 1766.25-72.30. Once completed, minute wave c is then expected to decline to 1627.49 to finalise the entire corrective decline from 1796.30 ‘

As you can see, the ultimate downside target for minor wave ii. was derived by extending minute wave a by a fib 38.2% ratio – a common ratio metfod used in zig zag patterns.

Early last week gold prices traded lower with a recorded low at 1625.77. A reversal signature from this low gives a lot of creditability to begin new accelerative advance:

 (Become an EW-Compass report subscriber and see how this pattern continues to develop and what’s coming up in the larger time-series).

Category: Gold

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