alldyn_pip_king

Gold at highs not seen since 2011, looking for correct

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
We have some exciting things happening here with Gold . We have the price finding resistance almost at the top (1) of a previous high (aforementioned), which just happens to be a confluence with the top of the 30% area of VPVR. I am looking for Gold to correct to (2 - Developing VA High and PF median) and even to (3), which is a confluence with the POC and Developing POC. AT this price area, we can see that price danced along here for sometime before breaking northward. We have all kinds of candle pattern messages at this level to tell us that we were going north.

*IF (I say that in all CAPS) if risk appetite takes a break, we can see Gold push to the Developing VA Low, which is the outer parallel. I say this because if we push past the median PF , just based on how these things trade from parallel to median to parallel, this is a good indicator if price fails to break that median once below and then pushes below the POC areas.

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