10/28/2010 (Gold Update) The beauty of wave is that it provides us possible alternatives so that we know how to deal with. There won't be any surprise if all counts are considered. Would the current fractal a wave-_c or a wave-_3?
update: i'm favouring the bullish count (especially with gold having put in an inverse h&s) but it will not become validated until the 1.4079 high is taken out. I'm flat until the pattern becomes more obvious.
Today gold's price behavior shows a strong bullish momentum. Bearish count is not to be considered at this moment. I'll start a new thread for November. Stay tuned!
This thread is closed. If you are following my wave count, please see: http://www.elitetrader.com/vb/showthread.php?s=&threadid=209418