Looks like there is a confluence of fib around 2.21 and comes in handy with the 200 ma on daily and the structural .
I will be looking for a shallow retrace of 23.6 or max 38.2 fib for going again heading for ma200. That will probably be coming in around 2.57 at that time.
I will be following the price of gold as well for confirmation on further upmove.
At 2.57 price action will stop and retrace - creating a possible neckline. Price then probably makes retrace to ma100. Price action could then be setting up a possible IHS .
BUT first things first ;)
Music at work:
But as always.... time will show
Safe trading ladies and gents!
In an bullish EW-count I do see gold go above 1400. But if we see a pennant as the fourth wave before a final firth or a flat before further upmove ....hmmm.
It will take a lot of time and goldminers will be hesitating in going higher too
So!.... The IHS is pure speculative and much to early to be looking for.