Sell at 1609, target 1540, stop 1634
As per attached long term forecast, Gold is in down trend from the last week top. Wave 3 on hourly chart is complete, length equals to 1.6 extension of wave 1. Wave 2 was flat, so as per alternation rule we should expect from wave 4 a sharp zig-zag. Wave A and B of the zig-zag seems complete, so I am expecting wave C of the zig-zag to be 1.2 extension of A, therfore it should go up to 1609 and do not overlap with wave 1 which is my stop level 1634.
