pixi

Gann and 0.618 retracement

FX:XAUUSD   Gold / U.S. Dollar
489 1 7
Since gold             broke $ 1,140 an ounce and lack of buyer on $ 1,080 , I expect that gold             reach the 0.618 retracement of the entire $ 250 / $ 1920 leg.

From the perspective of Gann , if transforms prices and duration in degrees, this is what i find:
$ 1920 -> 104 °
$ 890 -> 105 °

To keep time in same degrees, we need 1431 days (calendar days)
1431 days -> 105°

Septembre 6, 2011 + 1431 Days = August 7, 2015

Price and time can square             .

This is a severe drop until early August but anything is possible, especially with gold             .
If price reach 890$, i'll go long with 1285$ as target : 0.382 fib / Channel up trendline / 105° from Gann view.
Excellent analysis.
I've come to a similar conclusion using other tools, I'm looking to sell a retracement if one materializes soon.
My time target is a bit longer though, such a vertical drop would be really violent but feasible of course.
Trend is very clear, no question about it. It's falling.

Gold: Monthly forecast update
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