benchch

Gold hasn't moved up enough to convince me the zigzag is over,

FX:XAUUSD   Gold Spot / U.S. Dollar
I thought we had finished the corrective phase and were in the 3rd wave of another up trend.

Wave 3 is not behaving like a wave 3. So I think This could be a C wave of a larger B wave. Meaning we have another 5 down on the way after this wave is completed. That 5 down will be the larger C wave

There are lots of wave labels on this chart. What I want to point out is marked in blue. With the notes to make it clearer

So we have slightly more upside to complete the B wave. Then more downside

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