GOLD - 3rd of 3rd wave idea uppdated.

I spent considerable time reviewing my last gold idea from May2nd in which GOLD was possibly starting a 3rd of a 3rd wave?
The wave structure since then has been quite complex and does not show the strength normally associated with a 3rd wave. This has led me to completely look again at the whole chart
since the early 2016 bottom with the following comments:
The correction since early 2016 looks like it could be tracing out a double zig-zag with the A wave complete and the B wave taking the form of a triangle.
In this triangle the A wave is complete and the B wave is taking the form of a double zig-zag with a FLAT taking shape as the(X) wave.
If correct this means that GOLD will drop this coming week to complete the FLAT and then rally to complete the triangle B wave.
As always comments welcome.
Good Luck.

Bình luận:

Gold completed the FLAT (X) at around 1206 and has now completed wave 1 of a possible 5 wave impulse. Gold may fall back to around 1223 to test the trend line and then rise in a strong wave 3. One of the Analysts I respect and follow is forecasting strong rises for GOLD & SILVER soon and this fits with my own analysis.
Good Luck