Alf Field: Gold Retested $1,650 as Expected and Now is on Move to $4,500 (+2K Views)

Gold it is still tracking well in line with Elliott Wave expectations [which foretold] a rally from the previous low followed by a further decline to [as low as $1,650 before going onwards and upwards. Let me explain the steps that brought me to that conclusion.] Words: 683

So says Alf Field  in edited excerpts from an article* posted on goldswitzerland.com which Lorimer Wilson, editor of www.munKNEE.com (Your Key to Making Money!), has further edited below for length and clarity – see Editor’s Note at the bottom of the page. (This paragraph must be included in any article re-posting to avoid copyright infringement.)

Field goes on to say, in part:

Before dealing with the current move, [however, let’s review just] what our expectations are. What we know so far is that:

• Intermediate Wave III started at $1523 and that we have a target of $4,500 for the end of Wave III,
• Wave III will consist of five regular waves which we will label 1 2 3 4 and 5.
• Regular waves 2 and 4 will be the anticipated 13% downward corrections described in my speech to the Sydney Gold Symposium. [See edited excerpts of Field’s speech here.]
• Regular wave 1 will consist of 5 minor waves which we label (i) (ii) (iii) (iv) and (v).
• Waves (ii) and (iv) will be downward corrective waves one degree small than the regular waves. Thus they should be about half the magnitude of the 13% of the regular sized declines, say about 6%.
• Minor wave (i) should consist of five minuette waves which we can label i ii iii iv and v.
• The minuette waves ii and iv will be downward corrective waves about half the size of the minor wave corrections of 6%. Thus the minuette corrections should be approximately 3%.
• An analysis of minor wave (i) below, showing the five minuette waves, results in a wave count as perfect as one could wish for and, as such, we can conclude that minor wave (i) was completed at $1792.

1. i 1523 to 1665 +142 +9%
2. ii 1665 to 1620 – 45 -2.7%
3. iii 1620 to 1765 +145 +9%
4. iv 1765 to 1706 – 59 -3.3%
5. v 1706 to 1792 + 86 +5%
6.  Summary of (i): 1523 to 1792 +269 +17.7%

As described above, minor wave (ii) [suggested] a correction of approximately 6% [which] could range from 5% to 8%…An 8% of decline brings the $1650 area into play. If gold drops below this level we will have to consider other possibilities…

*http://goldswitzerland.com/index.php/what-happened-to-gold-on-leap-year-day-2012/ (To access the article please copy and paste the URL into your browser.)

Editor’s Note: The above article has been has edited ([ ]), abridged, and reformatted (including the title, some sub-titles and bold/italics emphases) for the sake of clarity and brevity to ensure a fast and easy read. The article’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article.

Why spend time surfing the internet looking for informative and well-written articles when we do it for you. We assess hundreds of articles every day, identify the best and then post edited excerpts of them to provide you with a fast and easy read. Sign-up for Automatic Receipt of Articles in your Inbox and follow us on FACEBOOK | and/or TWITTER .

Related Articles:

1. Alf Field: Gold Going to $4,500/ozt. in Next Wave Towards Parabolic Peak

Once this present correction in gold has been completed it should [undergo] the largest and strongest wave in the entire gold bull market…to around $4,500 with only two 13% corrections along the way. [Let me explain how I came to that conclusion.] Words: 1900

2. Is Gold About to Go Parabolic to $3,495 in June ’13; $10,899 in Sept. ’14 and Top Out at $32,659 on Jan. 16, 2015?

According to a recent Elliott Wave theory analysis gold is about to go parabolic reaching $3,495 in June 2013, $6,233 in April 2014, $10,899 in Sept. 2014, $18,712 in December 2014 and culminating in a parabolic peak price of $31,672 on January 16th, 2015! See the chart below. Words: 600

3. Fractal Gold Projection of $3,500 into Mid-year Remains Intact!

Our Fractal Model suggests the wave for Gold in US Dollars will sweep up into the $3500 to $3600 area into the mid-year time-frame. The leading edge of that time-frame begins in May and extends out for a few months. A potential for Gold to spike to a $3900 extended fib level exists. Like all parabolic moves in Gold, the late stages create the biggest price movements. Personally, I would be happy with a huge Gold run up to the $3200 level. Words: 1400