GOLD - This Isn't The Top. It's Wave 4.

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GOLD - This Isn't The Top. It's Wave 4.GoldOANDA:XAUUSDWicktatorFXWe longed gold from 4000 and rode the whole of wave (3) into the 4700 high. That leg is complete. What's happening now was mapped before it started. The count Wave (1) ran off the 3942 low. Wave (2) pulled back deep into the 0.618–0.786 zone and turned. Wave (3) delivered — five clean sub-waves, i through v, topping at 4700 and travelling 2.6 times the length of wave (1). Textbook third wave. Wave (4) is the leg we're in now. It has tagged the 0.382 and is working into the 0.5 — the buy zone. The count holds on both rules. Wave (2) was deep and complex, so wave (4) comes in shallow and simple - clean alternation. And the zone sits clear of the wave (1) high, so there's no overlap. Wave (5) is the final leg. Worth knowing: this five-wave move is wave (C) of a larger Ⓑ. Wave (5) completes it — what follows that top is a reversal, not a continuation. Targets - 4850 - 5000 Plan - Let wave (4) finish in the buy zone - Entry on the turn out of the zone - Invalidation: 4210 We don't chase it lower. Price comes to us. Goodluck and as always, trade safe!