EuroMotif

XAUUSD possible "Bullish Retrace" to $1450 ? Gold retrace watch

OANDA:XAUUSD   Gold Spot / U.S. Dollar
Early forecast of one POSSIBLE scenario.
Too early in the week to talk PROBABILITY.
But a "Bullish Retrace" is quite PLAUSIBLE.

Left side chart shows possible ABC retrace structure.
Upper Right shows structure of retrace thus far.
Lower Right shows short term critical support.

This is a continuation of my previous two plots which played out quite precsely:
$1555 Top Call (caught the biggest 1-day move in a long time)
$1506 Bounce (called for a hard to imagine bounce and got it).

Previous Gold Analysis (click):
$1406 long to $1525
$1450 top call
Uptrend Landmarks
$1386 bounce
$1400 bounce
$1439 top call
$1332 bounce
$1320 top Call
$1270 bounce
$1280 break
$1380 call <= 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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