GOLD elliot wave+confluence point direction

When charts co-relate with global market sentiment we usually see high yielding assets, such commodities as gold to start to appreciate. But one factor has to overcome or at least meet investors expectations, such as objective price, so we normally won't see much demand around such high prices. Therefore new economic cycle can't begin if the last one hasn't finished or markets are in stand-still mode. Remember to buy cheap and sell high, demand is always present. Note that price valuation is based on quite objective stance, but markets are not always like that and often don't give us opportunity to enter from objective fundamental-technical allignement, but somewhere else so take this as idea and remember to re-evaluate situation from time to time. Safe trading everyone

hint: ignore momentum lines, they come from higher timeframes