Elliott Wave 5.0 "Reboot"

Tuesday, April 5, 2016

Gold Intraday Review: Lift Off!



This is what we have been waiting for as gold seems to have risen from the dead and come alive.
Overall, my ending diagonal is still the best fit, but we need to keep a look out for a 3 wave pattern. 
We will deal with that as we go along as right now we can take some extensions that will stretch  this pattern to look more like a normal impulse.

I'm right down at the Miniscule degree level so the next few wave counts I may have to dip into my next lower three levels, Atom, Proton, Quark.

This is not a big deal yet, but if it gets much lower for longer periods than I may need to do some adjusting.  Since I have a wave 4 bottom in Minuette  degree, this entire 4th wave decline should get completely retraced. This is not Elliott Wave rocket science as every 4th wave in the EWP gets retraced. When they don't then chances are that it never was a 4th wave in the first place. 


Right now, I would be looking for another correction, but it should be a rather smaller one. 


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