Gold looks to have completed wave WX of a complex WXY correction.
I expect prices to fall to Y in the area of about 1215-16. Here is a good spot to buy if gold is to go higher.
Y waves are hard to predict as it can be in any combination... so can short from here with stops at 1231 which is your invalidation point.
Or else just wait and set buy limit order at 1216...
I'm not completely sure if gold has completed it's down leg, but it for now it looks to have completed a fourth wave up and now heading down to 1130ish mark or even lower to complete wave 5.
From there it should have a super huge rally all the way up to about 1550+ to complete wave B.
From there it should fall down all the way to C, which is somewhere in the...
So we have almost completed the 4th wave of gold. I'm expecting gold to hit 1235ish or a bit higher as wave 2 was only a shallow 38.1% retracement, hence wave 4 should be more deep.
From there we should come crashing down to about 1120 to complete wave 5.
From there we should go all the way up to 1370 to complete major wave B and then come crashing back down to...
Could be a complex correction of WXY's that make up the major waves ABC.
So we have completed major wave A and B. Now we are in the process of completing wave X which makes major wave C.
If I'm right we have already completed wave W and now on wave X of Major wave C.
This will take us to roughly $5.80 before we come crashing down to below $2 for the completion...
Long term, FMG may have already finished it's ABC correction, and finished wave 1 and 2, and starting it's 3rd leg....If this is the case expect explosive upward movement in prices in the years to come
Gold has just completed wave 1 and wave 2 of major wave.
Now it is in the process of completing minor wave 2, which will end around 1187 and from there it should go up to about 1227 for completion of major wave 3.