Arguments: - trendline of 3rd (yellow) wave is broken. - divergence in 3rd and 5th wave(green) tops(12 and 17 jan) inside 3rd wave extention(yellow). - ABC (3-3-5) expanding flat pattern. wave B is still forming. - wave (c) (inside B wave of ABC pattern) is a diagonal. sell it when line conecting 2 and 4 wave's ends of diagonal(green) is broken, wave C should be a 5 wave impulse or a diagonal. wave C should correct extended wave 3(yellow) by smth like 38%, and should finished inside wave 4(green) of lesser degree. after that wave 5(yellow) (up) should be. Keep an eye on it! Good luck!
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there is an possibility, gold makes one more abc up(5th diagonal wave) before going down.
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looks like zig-zag pattern. flag breakout will be a confirmation. gold may drop well below 1991
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possible scenario
Trade active
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1991 target is reached next one is 1174
Trade active
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looks like gold completed corrective structure.
Trade closed: target reached
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I've just looked at my 1st gold idea. Original price target was wave C = 1.618 * wave A = 1180.7 looks like ABC correction(wave 4) is nicely done. so, wave 5(up) unfolds. targets for wave 5 are 1221 (100% of wave 1) and 1246 (161.8% of wave 1)