EuroMotif

XAU.USD hit downside targets exactly. Now what? Gold bounce due?

EuroMotif Mod Updated   
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Pre-Market look at a possible start of new week.

Last week the downside targets hit exactly, from:
My top call at $1555 (click)
to
Downside target $1480 (click). <= check the updates in this one.

The retrace thus far fits a near perfect 5-wave structure per Elliott.
Also per Elliott, we should see a 2 wave (abc) correction to the drop.
Most common correction to a 12345 is to retest wave 4 end point.

This a very early look before ANY news has hit.
As we all know, one tweet could change everything.
Any trades today will be with small risk and humble gains.

Previous Gold Analysis (click):
$1555 top call<= Just in Time
$1406 to $1525<= Awesome Long
$1450 top call
$1386 bounce
$1439 top call<= To the Penny
$1320 top Call
$1270 bounce
$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.
Comment:
So much for a bounce, NOT! :( Thus my caution with trading on Monday before US sets the tone. Will update a new plot after US action today.

.

the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
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