XAUUSD nearing Critical Support: Gold and why $1402 is Important
We are approaching a critical price point of $1402.
There are 3 important fibs clustered tightly nearby.
This cluster we pierced earlier, but rebounded well.
$1402 is last defense of 1400 round.
$1396 is likely first stop if 1402 breaks.
$1389 is critical uptrend support to hold.
My previous Gold Analysis (click):
Uptrend Landmarks
$1386 bounce
$1400 bounce
$1439 top call
$1332 bounce
$1320 top Call
$1270 bounce
$1280 break
$1380 call <= 5 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.
.
There are 3 important fibs clustered tightly nearby.
This cluster we pierced earlier, but rebounded well.
$1402 is last defense of 1400 round.
$1396 is likely first stop if 1402 breaks.
$1389 is critical uptrend support to hold.
My previous Gold Analysis (click):
Uptrend Landmarks
$1386 bounce
$1400 bounce
$1439 top call
$1332 bounce
$1320 top Call
$1270 bounce
$1280 break
$1380 call <= 5 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.
.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.