Chart on GLD (Daily) for Aug 16, 2018

Today's high region in GLD is key.  Below it, and we can still push down to a lower low for an extension in 3.  If we can take it out through the 112 region, then it opens the door to the path towards 115-116.

GLDdaily
GLDdaily
Avi Gilburt is founder of ElliottWaveTrader.net.