FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
213 19 11
Short from 1194–1239 area
Comment: Downward to 1200–1218 area, then goes up to 1381

Related Ideas

I shorted at 1258 (after getting stopped 3 times), third time's the charm.
Gorbie IvanLabrie
Good opportunity for long after retest of breakout.

New setup here...
Everyone has this strange Pretcherian count lately...haven't you seen it too often?
I think it's not the case, but good luck.
Gorbie IvanLabrie
I don't know.
If I see 3-7-11 sequence count of correction, I change my position after retest of breakout.
Here the longs with 3 waves at least.

I don't know either, but I don't agree with this wave count.
Not a problem though, it might work anyway, even if it's something else.
Good luck with the setup.
Gorbie IvanLabrie
Look at monthly timeframe. Perhaps, price in "6" of correction cycle from September 2011. Anyway price should bounce near cost of production a gold. Correction of big impulsive cycle from August 1999 till September 2011 is ended into $1086–890 area.

Yeah, maybe that's what's going on.
Gorbie IvanLabrie
Maybe it's ABC (zig-zag)... But 3 waves up should be before price goes down to $980.

The small one, and the giant two, and the too steep retracement at completion disagree with neowave rules of logic, to start with.
That's why I disagree with this impulsive decline wave count.
Gorbie IvanLabrie
Of cause, wave B could goes higher.

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