Update the elliott wave count for Gold (2017-01-05)

The current uptrend for gold is more likely a new impulsive wave. We can compare it with usoil which had a similar structure before (in 4h time frame). A leading decline triangle and then a quick drop. Following the quick drop is a rapid rising.

Good luck for everyone!

Comment:

Nice bull! It goes as expected. It goes in the same way as oil structure before.

Trade closed: target reached:

I closed my longs gradually as it is coming to a supply zone. The dxy might pop here. I will wait for the pull back and prepare to buy again. It should go higher in long term.