Gold - waves

[Evgenia Gencheva]

Gold is in corrective wave, according to my calculations 1280, maximum 1310. After this correction and depends of possible breakout of 1280, the gold will stay in consolidation between 1240 - 1280 for the next 2 weeks. After three weeks I expect breakdown of 1240 and new bottom 1200.

https://i.servimg.com/u/f97/19/53/74/92/forex_56.png



https://i.servimg.com/u/f97/19/53/74/92/forex_59.png

[Evgenia Gencheva]

Actually and I'm confused with the calculation of internal waves in this case, because this expanding triangle is consolidation zone also and must be taken as one wave. On the other hand, X is taken from me, as reversal point, therefore X - 5 is moving wave containing 5 smaller waves. X - 5 is the first wave, 5 - C is second corrective wave, which means, that I expect another 2 moving waves - 3rd moving, 4th corrective, 5th moving and after wave 5 bigger correction of all this formation. For 3rd moving wave I expect top at 1430.

https://i.servimg.com/u/f97/19/53/74/92/forex_62.png