2lalit
Long

GOLD ENTERED INTO TIME TO CLOSE ABOVE THE HIGH (SESSION-2)

FX:XAUUSD   Gold/U.S. Dollar
80 1 6
BULLS STILL HAVE TENDENCY TO BACK TEST $1315 HIGH

The first of 42D Time To Closed Above/Below Fibonacci, started from $1284 High 2016.03.07 shows on the days 42 the closing price at around $1232 (above 0.382 Fibonacci at $1193) on 2016.04.18 (42D + 2016.03.07) and for 56D Extended Time To Closed Above/Below Fibonacci, started from $1284 High 2016.03.07 shows on the days 56 price climb to $1304 High on 2016.05.02 (56D + 2016.03.07) and closed at around $1288.

The 2nd of 42D Time To Closed Above/Below Fibonacci, started from $1304 High 2016.05.02 shows on the days 42 the closing price at around $1297 (above 0.382 Fibonacci at $1205) on 2016.06.13 (42D + 2016.03.07) and for 56D Extended Time To Closed Above/Below Fibonacci, started form $1304 High 2016.05.02, now will end on 2016.06.27.

Last week price break $1304 High 2016.05.02 and make a new high at $1315 then decline and closed at around $1297 above $1295 of 0.382 Fibonacci level. In my view point, buyer still have an opportunity to retest $1315 High to moving higher and if buyer can't do that, then $1315 is tend become June 2016 High and price will move a correction and build a base to make a higher because in point 5, I see temporarily upward breakout.
2lalit
5 months ago
42D & 56D charts
snapshot
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