Gold pull back

By RealMcafee

Updated

At the 1.618 extension. Potential pullback to 1400.

/* Not trading advice */

Silver-to-gold ratio.

Note

Let's see what happens in the new week

Note

Maybe we need to wait until next week to see how the gods of gold decide

Note

Jury is still out on gold.

Note

Potential head & shoulders on gold

Note

Head & Shoulders target is between 1415 and 1440. Let's see, I'm not buying though.

Note

Interesting...

Note

This gold chart working it surprisingly good... so far. The pullback at the golden ratio was, dare I say it, obvious - current trajectory less so. I don't really trust fractals for trading, but I don't trade gold anyway: in the last 4 years it has done just 50%
My guess is that January wick is indicating we have reached the supply zone, but I expect the price can creep up toward 1700 still. Just a guess.

RealMcafee

Also on:

Related publications

SILVER (XAGUSD): stakk eet!

by RealMcafee

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.