EWS
Long

Gold - Bottom in place at 1,046.

FX_IDC:XAUUSD   Gold / U.S. Dollar
We now have a nice little Inverse S/H/S pattern in place and yesterday we saw a Cup with handle being triggered for a rally to the calculated target of 1,150.

From an Elliott Wave point of view, an large ending diagonal most likely terminated with the test of 1,046 and if this count proves correct, then the target becomes the origin of the ending diagonal , which is seen at 1,392.

The stop for this trade should be placed at 1,103.
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