Gold 4-hour wave count: Continuing the view from February 1st, gold has been in an uptrend since bottoming from October 5, 2022, to November 5, 2022. I mentioned the rhythm of creating a big bottom at that time, and have been tracking it ever since. The conservative target is 2500, possibly ending this big five-wave uptrend around 2700. Currently, we are in the midst of the third wave. In the smaller timeframe, a small five-wave likely ended yesterday, with the next step being an ABC wave downtrend correction. We will wait for the correction to finish before continuing to go long.
