2014-04-14-Gold-W

On April 14 I showed the above chart to my subscribers. Wave c of the major wave 4 triangle has just ended and I was looking for wave d lower. Depending on which kind of triangle that was unfolding a decline all the way to 1,180 in wave d. However, on April 28 it was clear that wave d ended at 1,268.54 as an horizontal triangle was unfolding and I showed the below chart.

2004-04-28-Gold-H

On April 28 the subscribers was alerted that wave a of E was over and that a decline towards 1,283 should be expected before the final rally higher towards at least 1,321. As can be seen at the chart below, then wave b of E ended a little lower than the expected 1,283 (the low came in at 1,273).

2014-05-05-Gold-1H

Finally I made this post to my subscribers this morning, telling them that I was looking for a rally towards at least 1,316, which almost has been tested. However, I do think it's more likely that a continuation higher towards 1,321 and possibly even higher towards 1,331 should be seen before wave c of E finally is over and a major decline in wave 5 of C lower towards 1,002.65 is seen.

The Elliott Wave Principle is the only form for technical analysis that can provide a blueprint like the above, for what should be expected of the future price-action.