The GREAT EWAP No. 3 dated July 5, 2020 of Gold Future August 2020 Contract_Zerodha Trading View Chart.
July 5, 2020.
Recap of EWAP No. 2 of June 27, 2020.
The GREAT EWAP No. 2, dated June 27, 2020, was 100% successful and achieved its predicted target of 48845. The price has gone beyond this prediction and ended at 48982.00 on July 1, 2020.
The following is the Chart for prediction posted on June 27, 2020.
You may find the complete EWAP No. 2, dated June 27, 2020, at https://thegreat.co.in/the-great-ewap-no-2_june-26-2020_prediction-for-gold-future-august-2020_zerodha-trading-view-chart_by-fimbewa-from-www-thegreat-co-in/
The GREAT Elliott Wave Analysis Prediction No. 3 for Gold Future August 2020 Contract
The said contract is going to expire on August 5, 2020, as per Zerodha Market Depth. The chart is failed to fold in Impulse Minute Wave iii of Minor 1 of Intermediate Wave 3. Therefore, I am of the view that Alternative EWAP is required, which I analyzed as under-
As of July 3, 2020, the closing price of Gold August 2020 Future contract is 48060.00. On July 2, 2020, the price has breached an invalidation signal i.e. the high of 11/6/2020 at 47680.00. Therefore, Impulse Minute Wave iii of Minor Wave 1 of Intermediate Wave 3 is undergoing extension and as per The GREAT EWAP No. 3, the price may move to 50385 as an extension in Minute Wave iii of 1.618% Minute Wave i (Circle).
I am dividing the entire Impulse Minute Wave iii into Minuette Wave i to v which may achieve its completion at 50385 and complete the Minute Wave iii. At present, the price is in the correction to Minuette Wave i to v. The prediction of price movement is highlighted with a dotted line in black color.
Here is the chart for EWAP No. 3 dated July 5, 2020, Sunday.
The invalidation of this count is breached of low of 15/6/2020 at 46546.00 i.e. Minute Wave ii (Circle). If the price breached of low of 15/6/2020 at 46546.00 i.e. Minute Wave ii (Circle), the alternative EWAP will be required.
(Chart Courtesy- The chart is published with the permission of Zerodha.)
You may get such a beautiful chart from https://zerodha.com/open-account?c=RV4791.
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