goodguy

Gold: Would not be surprised to see a correction here.

FX:XAUUSD   Gold / U.S. Dollar
106 0 4
Here is how a see the chart from a EWT             viewpoint (which anyone who has tried using EWT             knows this is usually only apparent in retrospect). First there is a a-b-c correction to "a" then a five wave contracting triangle as the "b" wave. Then a more complex a-b-c movement down to "c" with c=1.62 X "a" forming a nice channel. On the larger time frame I think this may just be the first move of a much larger 5 wave contracting triangle which I am calling "44" . Just a guess.
Hope your week is going well.
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