XAUUSD likely at temporary Top: Gold look ahead retrace zones
Gold looks to have completed a strong wave.
The 5.618 Fib (green) is a common wave ender.
Plotted are some support zones worth watching.
Bigger picture $1522 is possible, see this Idea (click).
But a near term retrace appears highly likely here.
Also the US Fed walked back some rate cut comments.
OOPS:
Just noticed chart has cut off the top fib.
The Green 5.618 as likely top is at $1450.33.
Previous Gold Analysis (click):
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.
.
The 5.618 Fib (green) is a common wave ender.
Plotted are some support zones worth watching.
Bigger picture $1522 is possible, see this Idea (click).
But a near term retrace appears highly likely here.
Also the US Fed walked back some rate cut comments.
OOPS:
Just noticed chart has cut off the top fib.
The Green 5.618 as likely top is at $1450.33.
Previous Gold Analysis (click):
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.
.
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