It is sometimes easy to see why market analysts scorn Elliott Wavers as chartists who were never wrong. Sometimes I dislike my own analysis too because the picture is not as clear and that means it is not that easy to trade. This is even more so when an instrument moves in patterns that can either be a corrective form or compounded 3rd wave form.
Right now, let me give my counts for Gold, this time with a supercycle alternative count.
Gold Daily: SuperCycle with Alternate Counts Gold 4 Hourly: Primary counts suggests a triangle forming on the upwaveSo, trade is pretty simple. Take the short side, set a stop above the yellow ii, leave your trading desk and hope that you don't get notified of a triggered stop loss. Note that it is especially important as tomorrow (Wed) is the CPI and Retail Sales data release BEFORE the US market opens. Before of low liquidity!
Disclosure: I/we have no positions in any stocks mentioned, but may initiate a long position in JDST over the next 72 hours.