Gold Power or Golden Shower..?

That's a beautiful Elliott count. If it's heading to those targets above, this is the likely launch point. Stop needs to be tight as there is data at 10:00am EST. that can move the market. But no reason to have your stop too far below the 61.8 of this last wave, data or no data. Nice upside potential with a risk reward of 5.5-to-1. This trade will reveal itself quickly. For the conservative trader, you could wait for the data, then look for the next higher low on a smaller time frame. Assuming the news is bullish and the count holds.