After the October 6th bottom, I've been waiting for the impulsive structure to break and give us a 3 wave retracement for wave 2. It appears that correction is now complete in the form of an expanded flat. A very common pattern following a strong impulse. Since an impulse ended on October 20th with a third wave extension, the flat pattern traced out a zigzag correction for A, a zigzag correction for B, and an impulse for wave C that also contains a third wave extension. Wave 2 bottomed near the terminus of wave 4 of the previous degree. A textbook structure. I have personally added on to my October 4th purchase of gold based on this analysis in order to compound my position.
Want to learn to count like me? Visit wavecounts.com for loads of content and a free trial.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Want to learn to count like me? Visit wavecounts.com for loads of content and a free trial.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.