Gold - Could trade sideways for a long term

Gold - Could trade sideways for a long term 

Please consider this option for gold. As you know it's not my preferred count for gold, but then it's no textbook advance from 1,046 and it's no textbook decline from 1,375, which could be explained but this option.

A triangle consolidation in wave (B) would make sense. The rally from 1,046 has already tested the 38.2% corrective target of the decline from 1,920 to 1,046 at 1,375. So instead of gaining more ground price-wise a triangle consolidation would use up time instead.

The triangle consolidation would also allow the USD to move up without hurting the precious metals in any major way, at least for now. A clear break below 1,165 would make this count the preferred count. 

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Thomas
2014-05-28
phenomenal new service EWS, I have followed you for 18 months and the exceptional analysis continues unabated! I look forward to the daily updates focusing on the most interesting and potentially lucr...
Duane
2014-05-26
Great job this week!! Wish that I had more capital to capitalize on all of your great calls! The ones that I have managed to catch have been extremely profitable. I really appreciate you sharing you v...
Hani
2014-06-06
I have been a fan of you blog for several years!
I am so impressed at your renewal.
Elliott wave analysis is so difficult to me, but so interesting and useful.

Thank you
Hani