Oops. I just learned that gold is still in wave C. Sorry everyone. Newbie in Elliott Wave here.
Wave C usually equals Wave A in length, or sometimes extends to 1.618 × Wave A.
That means:
Minimum target: same length as A
Maximum common target: 1.618 × A
Wave C must go beyond the end of Wave A (it must make a new low if it’s a downward correction).
C = A
C = 1.272 × A
C = 1.618 × A
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Wave A start: $4381.64
Wave A end: $4004.22
So the length of Wave A is
4381.64 − 4004.22 = 377.42
Now, Wave C’s possible end depends on the correction type and its Fibonacci relationship to Wave A.
Wave C ≈ Wave A to 1.618 × Wave A
C target range=4004.22−(377.42×1.0 to 1.618)
Equal A: 4004.22 − 377.42 = 3626.80
1.618 × A: 4004.22 − (377.42 × 1.618 = 610.15) = 3394.07