Bullish Bat - Daily Bigger PictureAll is on chart: 1.618 from 1375 to last year's low is 1120. Gold 0.27% bounced off of it at 1123 and is currently at . 382 retracement from it's drop from 1337 to 1123. We are seeing higher TF oscillators due for a pullback, but when?
BULL: .382 was 1202 and we past it. 1228 would be .50 and seems reasonable. While .618 is a bit far.
RETRACE: If we pull back from here .618 of this current bull would put us at 1153, while .618 from 1228 (if gold 0.27% bulls to .5) would pull us back to 1162.
The fib numbers represent levels worth watching for this retracement from 1123.
There is no rule that any instrument has to go where we think or turn at it's retracement fib level. These are just levels I watch in case it does turn. Nor does any indicator / oscillator say it's can't just keep going.
Be patient, no emotion, no greed, trade safe.
