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: (caught the biggest 1-day move in a long time) (called for a hard to imagine bounce and got it).
Previous Gold Analysis (click): <= 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.