Replies to post #46644 on Short Term Trading Member Forum

[techcharter]

Bliss, I Agree With a GOLD CRASH

Although I see a slightly different wave count though.

The September '11 low to the November '11 high looks corrective with all the overlapping subwaves.

The November '11 high to December '11 low looks like a double zigzag, a corrective pattern.

The December '11 low to yesterday looks impulsive.

So the entire September '11 low to yesterday's high breaks down into a 3-3-5 structure, which is a corrective flat. In this case it is a running flat since wave b is greater than wave a. The flat retraced 66% of the September '11 motive selloff.