FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
426 5 14
I like to see a last leg lower for wave (b) before we see an impulsive reversal
Below you can see my long term outlook and I believe gold             to be in a long term consolidation after the bull rally from 1998 to 2011 peaking at $1921.50.

Alternative scenario is that wave B is already in place, in that case I will wait for a consolidation ( bull flag ) before considering to buy gold             -0.98% .

Updates will follow.
thnx for sharing
so precise :)
+1 Reply
Hi Tim, thanks for sharing!
Also counted 5 waves down but this IV (max 1307.99) up entered the wave I (low 1306.38) invalidating this count and now I am inclined to wave C up already in progress.
@aibek, I agree with the possibility of wave B to over due to the fact that I don't like the relation between wave 1-2 and 3-4. However it isn't invalidated since we might seen an ending diagonal for wave C. Nevertheless it is too soon to tell for me just yet because this correction is messy and might turn into something more complex. I will update once it becomes clearer.
aibek TimStuyts
@TimStuyts, Thanks Tim! I like the things you share! Keep it up! Peace!
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