Last week the downside targets hit exactly, from: to . <= 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): <= Just in Time <= Awesome Long <= To the Penny <= 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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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.