Elliott Wave 5.0 "Reboot"

Tuesday, January 12, 2016

Gold Intraday Crash Review: Last Chance!



Gold has now moved about $10 past a target price I had and I would say this is gold's last chance to produce a wave three. Otherwise, chances are good gold will implode and take out that $1046 price level.  This pattern would then just end up being a zigzag.  I don't like to produce alternate wave counts in one posting as that would add to any confusion. There are always alternates that I can show as any correction has at least three choices at anytime. 

There is not much room to play with on these types of potential runs as it, "happens or it fails", but going much deeper is not an option in trying to keep this wave count alive. 

I may not be able to update for the rest of the week, but if things change I will update a bit on the weekend.