Elliot Waves Theory on Gold - Downtrend?

Hi,

There is an indication of Elliott Waves Theory on the downtrend of GOLD. USD seems to be fueled by the sentiment of The Fed's thought about interest rate hike. It is also supported by the recent economic reports such as the increase of inflation and retail sales report of the US.

If the GOLD is now on the third Elliot wave, we perhaps can hop for a long ride.

Thank you.