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.
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.