Based on the wave count, we should be finishing wave A tonight.
PA appears to be in a triangle right now, if we break triangle target should be targeting 1180/1181 zone.
Then we bull up in 3 waves pattern for the B leg of the correction.
Since wave 4 cannot overlap wave 1, I think this wxyxz count is more appropriate than my prev post, given today's deep retrace.
If wave Y =Z, we tag 84
1.618 of the prev move from 1122-1220 @ 1278.
Hence these will be the two areas I will be watching for reversal!
There are two possibilities for gold right now, either we bounce off purple line following the preferred blue count or should be going down for C wave in pink count.
So watch for price action in green circle zone!