GOLD; could this be the end of Wave A?
This was my original count.
GOLD has rallied 1122-1225 a $100 move since December without having any major correction apart from our 1180 lows.
This could be a short term top for now, and we likely pause for some downside correction into the 50/61.8% zone in a 3 wave fashion before resuming for C or Y leg up targeting 1270s.
However, that said, b leg could have been completed @1180 and we are already in C leg up. Until the small channel breaks could we then confirm we are heading for a correction.
I have an ending diagonal on SPX though, which I will link later below, showing that we have some more upside before we head for a bigger correction, Hence, this could be a likely scenario. So let's see.
GOLD has rallied 1122-1225 a $100 move since December without having any major correction apart from our 1180 lows.
This could be a short term top for now, and we likely pause for some downside correction into the 50/61.8% zone in a 3 wave fashion before resuming for C or Y leg up targeting 1270s.
However, that said, b leg could have been completed @1180 and we are already in C leg up. Until the small channel breaks could we then confirm we are heading for a correction.
I have an ending diagonal on SPX though, which I will link later below, showing that we have some more upside before we head for a bigger correction, Hence, this could be a likely scenario. So let's see.
