And next on the list is "Enormous Iron Nose Ring of Babe."
Encountered Guards: NONE
Number of Unencountered Guards: 3
Rooms not Entered: Crypt, Observatory, Medusa's Lair, Lightning Ball Room
Notes: Many people noted that right after Joel plowed through the wall and ran into the Mineshaft, the left tree in the Dark Forest began to flail its arms, showing that one of the guards was there. The other guards were believed to be in the Crypt and one of the other entrance rooms. The Lightning Ball Room was negated as a possibility.
My Thoughts: While capturing a single frame is difficult, if you watch the run for yourself, you can clearly see the Dark Forest left tree's arms move, which indicates that there was a guard there.
-- The half pendant can be seen on the actuator from the Troubled Bridge to the Observatory during Olmec's temple rundown. I have provided an image below, courtesy video posted on youtube.com by ChargerTheWolf. There was clearly another route that would have brought the team across the top of the temple, down the central shaft, and then across the bottom floor. One of the guards was always stationed before the half pendant, so that forced the Crypt to hold a guard.
-- Since one of the guards was in an entrance room and another was in the deep inner temple, I think it would have made sense to have a guard in the central shaft. It was common for that temple guard distribution to be used. Additionally, there were not that many runs where the second guard was deep in the temple (along the path that would have forced the team to encounter all three guards). The only runs of this type that come to mind immediately are "Imperial Purple Robe of Empress Theodora," "Red Sash of Tokugawa Ieyasu," and "Discarded Seal of Ivan the Terrible." Therefore, I don't think there would have been a guard in the Lightning Ball Room.
-- Generally in Season 2, the only time guards were placed in the Crypt and Observatory together was when the third guard was also in the outer temple (Medusa's Lair, King's Storeroom, or Laser Light Room spaces). Since the last guard in the "Iron Nose Ring" run was in the deep temple, I believe the final guard was in Medusa's Lair.
-- Often times, when a team began on the lower floor, the door leading to Medusa's Lair opened. In cases where going up to Medusa's Lair would lead to either a dead-end or a useless detour in the wrong direction, there was usually a guard there. Take "Mask of the Man in the Iron Mask," "Golden Stallion of Ali Baba," and "Jeweled Necklace of Montezuma" for instance. This is further evidence supporting the idea that the third guard was in Medusa's Lair.
-- In summary, I think the guards for "Iron Nose Ring" were in the Crypt, Medusa's Lair, and Dark Forest (left tree).