And again we are just making the b wave of this 4. wave,which may result with a bottom either under the 3. wave bottom 1178 as a flat 4. wave correction or maybe result with a correction, without reaching the 3. wave bottom,possibly ending at 1220-1250 interval.
Afterwards a C wave of the 4. wave has to follow the b wave,as an attack towards the 1450-1480 levels.
As the last leg a 5. wave has to end the C wave under the 1178 bottom of the 3. wave.This can lead to the target of 1156.
"also the movement has to go on to the 1200 level or under this level,to finish the B wave.. "
"the last upper movement is only a reaction,and not a strong trend..we are waiting for the lower lows of the B wave...until reaching some extrems maybe under 1176 bottom of the last 3. wave"
.....these were my forecasts,which were acting as trading signals for more than one bar....:)
My wave count is still in progress.
So we have to wait,that this b wave reaches a bottom under the 1180 bottom level of the 3. wave,to end an expanded flat correction according to EW.
This 4.b wave bottom under 1180 can be a suitable chance for opening long positions for the next 4.c wave.
I wish happy and lucky new year to everyone, trading in gold... :)
The 4.C.1 wave has begun from the recent 1277 bottom upwards, which has a wave target of 1327.Afterwards a correction towards 1296 as the second wave...
and then the rest of the 4.C wave towards the 1458 level...
The intermediate wave count 4.C is still going on.