4th Wave Studies With GLD

I figured this was a great time to do some analysis of 4th waves since the RVX seems to be completing one right now. This is the GLD in 2008 completing a long term 4th wave. Even with the 2 day chart you can clearly make out the counts. The question I have now is, do all 4th waves have this pattern, or only within a C wave? I need to determine if GLD is in a long term C, or a long term 5th wave with further analysis.