XAUUSD topped exactly on Target, now what? Gold Retrace Watch
Updated
This is a follow to my previous call for $1555 Top (click).
Gold hit a clear resistance and very likely a top from some time.
Fundamentals of Brexit and Trade Wars seem to be "less uncertain".
Technicals were screaming of a top and some pressure has escaped.
$ 1530 would be a strong bounce and the max imaginable.
$ 1525 more likely to act as resistance for wave 4 to end.
$ 1500-1502 seems every likely to be tested soon.
$ 1490-1493 plausible as stop hunt under 1500 psych.
Previous Gold Analysis (click):
$1555 top call
$1406 long to $1525
$1450 top call
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.
.
Gold hit a clear resistance and very likely a top from some time.
Fundamentals of Brexit and Trade Wars seem to be "less uncertain".
Technicals were screaming of a top and some pressure has escaped.
$ 1530 would be a strong bounce and the max imaginable.
$ 1525 more likely to act as resistance for wave 4 to end.
$ 1500-1502 seems every likely to be tested soon.
$ 1490-1493 plausible as stop hunt under 1500 psych.
Previous Gold Analysis (click):
$1555 top call
$1406 long to $1525
$1450 top call
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.
.
Note
Moving about as expected this far. Zoomed in and with the Green Fib added, we see a pretty well structured rise and decline
.
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