thillygoosth
Long

XAU/USD Daily- Refer to weekly first

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
Refer to my weekly analysis first. If I look at this last move as a 3 wave (which is what I would expect with the larger swing pattern).. It came off equal length at the 50% fib retrace. That box would be where I would be looking. They may not drop it down more considering people watching the trend line . It will come down to whether or not the dollar is done and is pulling back. We don't have confirmation on this stuff yet but I can see happening, or about to happen.

Comments

I am expecting bounce form Monday onwards. People will analyse the chart carefully and start jumping. its just the beginning. Look at oversold RSI. Every time it has reached here and bounced back up big time in past.
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