#Gold Update

I spent the last few weeks out of trading as I attempted to identify the start of an ending diagonal based on what I saw on lower timeframes in anticipation of the [A][B][C] flat. With the decline that happened last week, I am now open to three alternatives.

Black Labels [A][B][C]. Wave [C] is an expanding diagonal with wave b already completed. Expanding diagonal case looks stretched to my eye.

Colour labels - base case. We have just completed wave (2) of the contracting diagonal. It looks a bit too deep, though. Wave [C] dwarfs wave [A]. Not good.

The orange case is expanding diagonal and is in its final stage. Again wave [C] looks disproportionally big to wave [A].

Neither is perfect.