- of 3rd (yellow) wave is broken.
- divergence in 3rd and 5th wave(green) tops(12 and 17 jan) inside 3rd wave extention(yellow).
- (3-3-5) expanding flat pattern. wave B is still forming.
- wave (c) (inside B wave of pattern) is a diagonal.
sell it when line conecting 2 and 4 wave's ends of diagonal(green) is broken,
wave C should be a 5 wave impulse or a diagonal.
wave C should correct extended wave 3(yellow) by smth like 38%, and should finished inside wave 4(green) of lesser degree.
after that wave 5(yellow) (up) should be.
Keep an eye on it!
there is an possibility, gold makes one more abc up(5th diagonal wave) before going down.
flag breakout will be a confirmation.
gold may drop well below 1991
next one is 1174
Original price target was wave C = 1.618 * wave A = 1180.7
looks like ABC correction(wave 4) is nicely done.
so, wave 5(up) unfolds.
targets for wave 5 are 1221 (100% of wave 1) and 1246 (161.8% of wave 1)