If that breaks we will extend much further. XAUUSD
Buckle up. I've detailed my view in prior charts, targets and expected dips. We wait to move. Fibonacci will tell.
DXY likely to skid until that 786 so maybe Gold bulls will get that extension above 2k.
Think the 4hr gives a good look at the supporting movie averages clustering at 1941. Where Bulls are rubbing their hands together like Birdman in 2003. I have repeatedly said, I expect a major drop in price but I'm not hoping on it. I'm a long term bull with targets at 2300 but I think this post should help impatient bulls not get forced out. #XAUUSD...
XAUUSD I believe a big dip is still coming but 1970 will determine a lot
Major support between 1793 and 1687. Im favoring the former. Longterm targets at 2300
I still have long-term targets at 2300 but I see drops coming.
If you're going to be a bear, be the best bear you can be. Per fib, a 'proper' short set up would only activate once a month close under $1881 (0.145 fib) has taken place. That close would send traders targeting the next fib below at $1794-67.The next target would be the 382 from there (1688). Until this, HOLD LONGS FOR YOU SMART TRADERS. lol
I've taken profits and am charting for you guys safety. I don't believe shorting is optimal here. There could be blood left. Best to paper trade this types IMO, but if your missing Vegas, give it a go. Just SL out the wedge. Your preference /