Continuation of my . Monday global cycle complete now with NY close. USA did not buy today, so further decline likely.
Elliot Wave structure still in play, inidicating another dip. Last bounce on Hourly was likelu wave (4) and now in (5). That complete 12345 should make for a wave (A) of ABC.
Previous Gold Analysis (click): <= 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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The decline went a step further than I initially expected. But the secondary target was imagined and accounted for ahead of time. Thus it is a good idea to have at least 2 if not 3 points of "interest" in either direction.
Zoomed in, it looks like the purrple 5.236 in confluence with the red 4.0 and 2 other fibs was the support zone and that is what I should have spotted in the first place. So I have adjusted that support zone accordingly, and am now seeing a few more pieces of the big picture to come. Will post another plot soon...