GOLD has not yet made it to 1378 and tagged 1357 and probably in consolidation... why 1357?
1295-1205 price extension tagged 1357 (618 from 1295 or 1618 from 1205).
From the price moves and structure formation there are a few options on the table:
1. CYPHER from 1122-1295-1357 =XABC & D from 1357 to 1173(786) probable however not important at this point.
2. Continuation of the current move from 1122/1205 where support between 1300-1260 is probable,
Should the price tag 1260's then it will be the same consolidation as 1295-1205 (90-100).
3. BUTTERFLY/CRAB from 1046-1375-1122-1357= XABC & D FROM 1357
If BUTTERFLY/CRAB then 957-845(127%-162%) will be the price support from 1357.
The 3rd OPTION is not probable at this time only a break of 1205-1120 will validate this option.
Break of 1357-1375 will target 1425-1485 zone or 1543-1580.
1295-1205 price extension tagged 1357 (618 from 1295 or 1618 from 1205).
From the price moves and structure formation there are a few options on the table:
1. CYPHER from 1122-1295-1357 =XABC & D from 1357 to 1173(786) probable however not important at this point.
2. Continuation of the current move from 1122/1205 where support between 1300-1260 is probable,
Should the price tag 1260's then it will be the same consolidation as 1295-1205 (90-100).
3. BUTTERFLY/CRAB from 1046-1375-1122-1357= XABC & D FROM 1357
If BUTTERFLY/CRAB then 957-845(127%-162%) will be the price support from 1357.
The 3rd OPTION is not probable at this time only a break of 1205-1120 will validate this option.
Break of 1357-1375 will target 1425-1485 zone or 1543-1580.
