Gold: At A Critical Decision Point! Possible BIG Move Coming!

Gold (XAUUSD): Up Or Down? Decision Time Is Upon This Precious Metal

Gold had been on a tear strongly pushing its way back up after a tremendous run down. But now that uptrend has stalled and has found it difficult to move any higher. What does this mean for Gold? What was that uptrend all about? Was it a start of a new bullrun? Or was that just a correction of that MASSIVE run down? I dive deep into analysis of Gold to find this out. Read on.....

MONTHLY CHARTS
This is a chart that I posted back more than 2 months ago on Feb 6th. You can see in this chart that back then, I was anticipating that we were going to see Gold retrace back up in the coming weeks. Compare that to what has happened since then:
Chart from Feb 6th
Updated Monthly Gold chart:
You can see that prices dipped down to where I was expecting and then reversed up from there. But what you can notice is that since I posted that chart, I have since changed my wave count outlook and projections. But also keep in mind that that original projection in the previous Feb chart and this current one are still both valid.

Expanded Monthly Chart:
The bigger picture that I see here is that currently and for the next few years, we will see Gold unfold in a massive sideways correction. But of course, the opportunities to make money are great.
WEEKLY CHART
In the MAIN chart above in the weekly chart, what you see here is that I am expecting that we are to see a rather large and sustained drop back down to retest the lows before we are to see a MASSIVE rally back up.

Wave Count
In my wave count, the MASSIVE run down beginning from Sep. 2011 and ending 4 years later in Nov 2015 I have labeled as a wave (A) of the larger wave 4. If that is correct, then everything else that follows is part of the wave (B) and (C) of 4. Wave (B) is composed of 3 waves. The rally back up off the lows set in Nov 2015 I see as a wave A of (B). And currently we are seeing the wave B of (B) unfolding. Knowing that the wave B of (B) needs to also be 3 waves, I am now projecting that the wave (b) of B of (B) has just completed and that we could see the wave (c) of B begin. That wave (c) should take prices all the way down to retest the wave (A) lows.

SUMMARY

There is never any guarantee that any of this will happen. It could very well just turn and continue higher! That's the unpredictability of markets. But this is the best educated guess based on many hours of in-depth analysis that I could make. What you would want to wait for is a good, solid sell setup in order to get SHORT for this possible 5-wave wave c ride down. Remember that wave c's unfold in 5-waves. The safest is to wait for it to drop in a wave and retrace back up in a wave 2 of c to get that SELL setup. There are much more in-depth charts which more clearly indicate where we are anticipating the best opportunities. PM me with questions/comments.