Gold may have completed a very big corrective pattern here at [y], or we may be forming a leading diagonal in Gold, which will complete at I?. A third possibility not shown on the chart, is that of a series of 1-2/1-2 waves, and we can expect extreme falls once this 3 wave move is done. The current 5 wave move at (1) or (a) will be retraced by a 3 wave correction to (2) or (b), but if we keep on falling and take out the low of this 5 wave advance shown by [y] from these levels then its definitely a 1-2/1-2 formation, and then we may see much much lower levels on Gold.
good work aniruddha...really u always motivate me to go deep in EWP..
ReplyDeleteYou will be rewarded richly, if you do it with all honesty!
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