Re: Gold-- *PIC*
Posted by charleydan on 22:59 7/3/2009
Gold is still working out an correction.
1.Is calling for retrace---fourth wave most likely.
2.Retrace here should send market into fifth wave. It can end in a failure wave(number 3 line?) or go to number 4 or 5 line. Being impulsive a trader can use the trend line to identify the five waves down for a better target and then use lines to help more precise.
After that the market should be ready to head for .618 @ 961.10