XAUUSD very likely topped at $1555 for now? Gold retrace watch
Updated
Gold has been on a rapid rise due to Trade Wars and other uncertainties.
But we look to be at the very tippy-top of two complete wave structures.
Maybe a "blow-off top" or an "upthrust" above $1555, but retrace will come.
There are some very precisely zones defined by the two fibs on Daily TF.
The Blue Fib series has been quite rhythmic with peaks at 1,3,5, and 7.618's.
The Green Fib has been increasing in bandwidth, perhaps in a "final stretch".
$1553-1555 "should" be a top for at least temporarily.
$1448-1451 "could" be the first good re-entry for longs.
$1379-1383 "would" be a safe entry for a swing long.
$1343-1348 is Bulls' Last Stand, below that is much doom.
My Previous Gold Analysis (click):
$1522 from $1406
$1450 top call
Uptrend Landmarks
$1386 bounce
$1400 bounce
$1439 top call
$1332 bounce
$1320 top Call
$1270 bounce
$1280 break
$1380 call <= 6 mos ago
Of course, I have had total FAILS on some ideas too, not going to pretend.
But all of my plots show PRECISE entries, TIGHT stops, and EXACT targets.
Precision is the way of the Fib. Almost every turn happens at a Fib Line.
.
But we look to be at the very tippy-top of two complete wave structures.
Maybe a "blow-off top" or an "upthrust" above $1555, but retrace will come.
There are some very precisely zones defined by the two fibs on Daily TF.
The Blue Fib series has been quite rhythmic with peaks at 1,3,5, and 7.618's.
The Green Fib has been increasing in bandwidth, perhaps in a "final stretch".
$1553-1555 "should" be a top for at least temporarily.
$1448-1451 "could" be the first good re-entry for longs.
$1379-1383 "would" be a safe entry for a swing long.
$1343-1348 is Bulls' Last Stand, below that is much doom.
My Previous Gold Analysis (click):
$1522 from $1406
$1450 top call
Uptrend Landmarks
$1386 bounce
$1400 bounce
$1439 top call
$1332 bounce
$1320 top Call
$1270 bounce
$1280 break
$1380 call <= 6 mos ago
Of course, I have had total FAILS on some ideas too, not going to pretend.
But all of my plots show PRECISE entries, TIGHT stops, and EXACT targets.
Precision is the way of the Fib. Almost every turn happens at a Fib Line.
.
Note
So that was quite a drop from the Top as called That drop also provided a few clues, and thus a new map of possibilities which I have posted as a New Idea here:
See you at the next bottom for another bull run hopefully. In the meantime, best of luck with riding the shorts!
.
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