Long term GOLD Elliott Wave pattern.

Why the coming rally in gold is not a wave 3 up to new all time highs... the count from the 2011 high is down in 5 waves, wave 4 is a contracting triangle and wave 5 is an ending diagonal. This 5 down is Wave A of a large Zig Zag. We are currently in wave B which on this chart is shown as a wxy combination it could also be an abc zig zag. Either way prices should exceed the w high on this chart.