Gold 1-hour level wave count: Continuing the view of May 4, the gold correction wave has not ended, and the previous yellow A wave has gone 5 waves of green 12345. The yellow b wave has gone through 3 green ABC waves, and it is currently in the yellow c wave. There are two possibilities for the yellow c wave: 1. It ends with 3 waves of ABC; 2. It ends with 5 waves of 1235. For the time being, we only look at the three green waves of ABC, and wait for the market to give an answer on how many waves will be in the end. At present, it is considered to be in the early stage of c~C.