FX:XAUUSD   Gold Spot / U.S. Dollar
111 0 3
Eventually. Maybe something a bit like this.

What I'm interested in is the zig-zagging around $1700, the 0.618/61.8% of wave A (or 1) however labelled. (I prefer to label the first drop A, back up B, then the second drop (1), forming an A-B-C, with C as a full motive unfolding, as can be in corrective waves.)

Wave (4) of C then zig-zags over the 1.618/161.8% extension of wave A. Does it then suggest wave 4 of (5) might zig-zag back and forth over the 2.618 extension, before finally dropping to $650 or thereabouts, thus bottoming on the 0.7639 retracement of the whole thing?

If it does reach $650 / $646 then it would make wave 5 of (5), if dropping from suggested resistance (lower gold             line) 1.618 of wave 1 of (5) and make wave 5 2.618 the length of wave 1.

I find this a satisfactory possibility for now.

Currently thought to be in corrective move to retest the upper bound of the steeper down channel at $1244 or thereabouts, forming a head and shoulders .
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