My alternative idea on GOLD of 15th Oct was violated, hence my original idea of 2nd July seems to be still on track! At present GOLD is completing the X wave of an (W,X,Y)
FLAT correction with a diagonal which should complete around 1260 before starting the Y wave back to the W wave origin as a 5 wave impulse. If correct this Y wave should
provide a good entry point to go long. Good Luck
FLAT correction with a diagonal which should complete around 1260 before starting the Y wave back to the W wave origin as a 5 wave impulse. If correct this Y wave should
provide a good entry point to go long. Good Luck
Comment:
Looks like this c wave diagonal is now the expanding variety, this means wave 5 will finish a bit below wave 1260 making wave 5 longer than wave 3.
Comment:
Previous labelling voided but idea still valid.
Re label to show X wave as double zig-zag and wave 1 of Y wave a diagonal which should complete around 1271 (61.8% fib retrace)
Re label to show X wave as double zig-zag and wave 1 of Y wave a diagonal which should complete around 1271 (61.8% fib retrace)
Comment:
GOLD has retraced wave (i) by 0.886 fib and may retest again before bouncing in wave (iii)
Comment:
Gold plan on track, I expect small reversal to fib 68% level today and then sharp upwards in wave3 of 3.