So it appears that gold
is finally rolling over. Jnug
is already responding. On this 4 hour (and you can check the smaller time frames) it appears that this 1st wave down is complete. You can count 5 small waves down. Don't be surprised if we get a large 61.8% to 78% Fib Pop tomorrow for wave 2. Then I would absolutely be in JDST
. It is hard to pick a bottom for this move so I gave it a try with the FIB tool. If today is the end of wave one, and if we only do the 61.8% retracement
up, then wave 3 should be a little longer than wave 1, and then there is wave 4 32% retracement to set up wave 5. That yellow oval is not out of the question. This market has been very tricky.