XAUUSD correction upon us? Gold Early Support Plot
Quick plot to display possible supports.
Gold hit target exactly on my last plot (click).
Was already looking like a top when news hit.
Perfect timing and price to start a correction.
This leg appears to have some momentum.
I will measure it as it develops and update.
We all knew it was coming, maybe this is it.
We can expect a bounce here, and that will be very telling.
Initial bounce off a support offers clues as to the strength.
I expect dead cat here, then pierced and full to next zone.
1417 is first support, perhaps optimistic at this time.
1415 ought to react strongly, if not, another clue.
1412 is confluence of two key fibs, watch closely.
Previous Analysis:
$1332 bounce
$1320 top call
$1270 bounce
$1280 break
$1380 call <= 4 mos ago
See some of my other Forex calls below.
I also plot Crypto and some Stocks, check my Profile Page.
XAU.USD top call (precise to the Penny)
EUR.USD long call (scalp that ran hard)
XAU.USD bounce call (perfect entry, huge profits)
USD.CAD top Call (warning just in time)
EUR.USD top Call (perfect top, still in play)
GBP.USD dip Call (just in time, quick 70 pips)
Silver Bounce scalp (Perfect entry, still in play)
DXY toping call (Upthrust warning just in time)
SPX recent top (Fib extensions at work)
XAU.USD long to short (recent perfect entries)
USD.JPY short to long (recent perfect entries)
EUR.USD long term Short (the very tippy-top a year ago)
AUD.USD long term Short (almost at a long term target now)
Of course, I have had total FAILS on some plots also, not going to pretend.
But my plans offer PRECISE entries, TIGHT stops, and EXACT take profits.
Precision is the way of the Fib. Almost every turn happens at a Fib Line.
Gold hit target exactly on my last plot (click).
Was already looking like a top when news hit.
Perfect timing and price to start a correction.
This leg appears to have some momentum.
I will measure it as it develops and update.
We all knew it was coming, maybe this is it.
We can expect a bounce here, and that will be very telling.
Initial bounce off a support offers clues as to the strength.
I expect dead cat here, then pierced and full to next zone.
1417 is first support, perhaps optimistic at this time.
1415 ought to react strongly, if not, another clue.
1412 is confluence of two key fibs, watch closely.
Previous Analysis:
$1332 bounce
$1320 top call
$1270 bounce
$1280 break
$1380 call <= 4 mos ago
See some of my other Forex calls below.
I also plot Crypto and some Stocks, check my Profile Page.
XAU.USD top call (precise to the Penny)
EUR.USD long call (scalp that ran hard)
XAU.USD bounce call (perfect entry, huge profits)
USD.CAD top Call (warning just in time)
EUR.USD top Call (perfect top, still in play)
GBP.USD dip Call (just in time, quick 70 pips)
Silver Bounce scalp (Perfect entry, still in play)
DXY toping call (Upthrust warning just in time)
SPX recent top (Fib extensions at work)
XAU.USD long to short (recent perfect entries)
USD.JPY short to long (recent perfect entries)
EUR.USD long term Short (the very tippy-top a year ago)
AUD.USD long term Short (almost at a long term target now)
Of course, I have had total FAILS on some plots also, not going to pretend.
But my plans offer PRECISE entries, TIGHT stops, and EXACT take profits.
Precision is the way of the Fib. Almost every turn happens at a Fib Line.
Comment:
Fib of this leg down says $1411 has a shot at bouncing , but prolly not for completion of wave
$1405 now looks to be first likely conclusion of this wave (whether more to come is to be seen)
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Comment:
Back under the microscope, this 1.236 at 1425 is key make-or-break point
the 1.236 very often results in a continuation of original move
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the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
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