FX:XAUUSD Gold / U.S. Dollar
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i completed the sell off for the day has a big volume spike. Someone sold big.Now the next thing to look for is wave ii minor making a higher bottom than the 1199 lows for wave 2. Averages are near 1251 and 61.8% is at 1243. As long as we are below the 1315 high we should expect a correction to one of these support levels. It would be unusual to expecct 1200 again but because the recent rally was thin on volume I wonder if we retest the 40week average and weekly bollinger bands near 1200 again. So keep it open till the correction is done. The next move up would be wave 3 or iii of 3, so you will have to stay alert to a trend reversal from down to up when it happens.
complicated? 3-4 arrows and a target area? -.- hm, ok - vera, just for you: my target would be by 1248 (+/- 8$): and; if I start to explain it properly, then it could be be seriously complicated to understand it - pro stuff. r u a pro? :) just follow it... or leave comments on the chat :) thxs in advance ;)