the xau bottomed at 38.36 close to a fib .382 retrace
the first leg traveled 55 points
i would not be surprised for the 5 wave move in the xau to take us up 144 plus 38 or to about the 182 area maybe a little past
and it looks to me like the 5 wave move wont be complete until next year this first leg might very well last into the 2nd quarter of 2017
before we do our first serious correction
13 months would be until feb of 2017 21 months would be oct of 2017 just have to take it one step at a time
right now we are in the beginnings of wave iii on the xau i expect it to rally to around 160 area fwiw
good trading to all
