TRADE: XAUUSD: Buy@1117.90 Complete Alt Bat + Wave Count

Buying GOLD (XAUUSD) because if my wave count is correct, then we are looking at a possible wave (iii) coming! Gold has just declined in a wave (ii) retracing almost all of wave (i) which wave (ii)'s can do. Such a deep wave (ii) means that the wave (iii) to come may be significant and can bring GOLD to new highs! Well, that is a long ways off but for now, I am going LONG with stops below the origination of the wave (i). I will look to take profit (TP1) at around the 1152 mark as there prices should encounter some resistance.

This decline also completed an Alt Bat pattern and this alt bat completed just around the bottom TL.