GOLD - Alternative Weekly Bullish View.
My previous ideas have placed GOLD in a large triangle starting in July 2016, of course this idea is still valid BUT as always with EW analysis there is another alternative.
I am now swaying towards this new idea which has the C wave of the A,B,C correction tracing out a diagonal which would complete at around 1375, the fib 38% retrace level.
If this idea is correct GOLD would not make the 50% retrace level as wave 5 would be longer than wave 3 in the diagonal.
Time will tell, Thoughts?
Good Luck.
I am now swaying towards this new idea which has the C wave of the A,B,C correction tracing out a diagonal which would complete at around 1375, the fib 38% retrace level.
If this idea is correct GOLD would not make the 50% retrace level as wave 5 would be longer than wave 3 in the diagonal.
Time will tell, Thoughts?
Good Luck.
Komen:
Just adding the cycle level a,b,c to the chart.
