Gold eyes on 2455.51: Sister fib of our bouncer and may Reject
Updated
Part of my ongoing analysis, see links below.
Quick post to alert of a possible pullback incoming.
We are rapidly approaching a Genesis fib at 2544.51
Its sister fib is what bounced us strong from 2307.19
It is PROBABLE that we get some retrace from it.
It is POSSIBLE that to get a significant top here.
It is PLAUSIBLE to break and retest to continue.
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Previous plot of the Big Picture calling for $2700:
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Followup calling for 2300 retrace target:
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I will post updates as price action progresses.
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Quick post to alert of a possible pullback incoming.
We are rapidly approaching a Genesis fib at 2544.51
Its sister fib is what bounced us strong from 2307.19
It is PROBABLE that we get some retrace from it.
It is POSSIBLE that to get a significant top here.
It is PLAUSIBLE to break and retest to continue.
.
Previous plot of the Big Picture calling for $2700:
.
Followup calling for 2300 retrace target:
.
I will post updates as price action progresses.
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Note
Pullback as expected:Did not quite make it our fib, at 2455.41
which is a bearish sign, as bulls are tiring.
.
Zoom in (m3) and add a fib to the dip
The first wave ended at the 11.089,
which is a golden exponent (1.618^5).
Then many pings confirm the full series.
.
Zoom out a bit (m8) and including all fibs:
Gives a nice roadmap of zones to watch,
and a possible ABC correction with 3 targets,
with a "Speed Bump" that must slow the drop.
.
Note
Well that was a disaster!Blew through all of our supports, including our "worst case", LOL.
,
Zoom out a bit (h1)
Brings 2307 into sight below, Genesis fib
plus local fib doing down.
And just above we have reinforced resistance at 52.36 - 54.75
So now we have clear boundaries to watch.
Break in either direction should continue strong.
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