Gold: An Impulse In Action (flashback)Mar 21, 2024

Gold makes five waves up since February, a pattern that we have been tracking with members

Gold (XAUUSD) faced an impulsive rally into new all-time highs recently and just 3 days back we mentioned and highlighted about an ongoing bullish impulse in the 4-hour chart. We warned our members about a corrective pullback in wave (4) with ideal support around 2150, which was also the previous all-time highs level. We sent out this update, just before an important FOMC decision when increased volatility and momentum caused dollar sell-off.

Gold Made A Five-Wave Impulse As Anticipated XAUUSD 4H Chart From March 18
XAUUSD 4H Chart From March 18

As you can see, gold bounced perfectly from projected support, and it has nicely reached new highs perfectly within wave (5), which is actually final leg before a higher degree correction shows up, thus be aware of a slow down.

Gold Made A Five-Wave Impulse As Anticipated XAUUSD 4H Chart From March 21
XAUUSD 4H Chart From March 21

Become a premium member

Get daily Elliott Wave updates for some major Digital currencies, FIAT currency markets, major stock indexes, gold, silver, crude etc. or apply for unlimited access to the Elliot Wave educational videos.

Bitcoin Update: Higher Degree Correction Can Be Coming To An End. Check our blog HERE.


Any reviews, news, analysis, prices or other information contained on our website is provided as general market commentary and delivered electronically through a distribution channel to larger number of clients, therefore does not constitute investment advice or investment research. We are not trading advisors. Most of our work is for educational purposes only, with information based on Elliott Wave theory in real time. Trading forex, futures, options, stocks, cryptocurrenices or any another trading market carries a high level of risk, and may not be suitable for all investors.

The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information that we provide should not be relied upon as a substitute for extensive independent research before making your investment decisions. In no event will we be liable for any loss or damage on your account in connection with, the use of our products. For any real cash investments you have to contact your financial advisor.

Any information or material contained on our website is owned by Val Global d.o.o.. Reproduction is prohibited without Val Global d.o.o. prior license in writing.

By continuing to use the site, you agree to the use of cookies. Learn more.

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.