Breaking down the gold price trend from the monthly chart level reveals an interesting phenomenon—the current position is at the 5th wave in a price chart that spans over 200 years. This wave has just reached 4,384 yuan, which happens to be exactly twice the peak of the 3rd wave.

Why can the price trajectory over two centuries be linked together by the same logic? The answer may lie in the inherent patterns of price movement itself. The value of Elliott Wave Theory may be that it abstracts market behavior into a verifiable cyclical model. When you stretch the timeline long enough, those seemingly random rises and falls start to reveal a certain structural rhythm.