Trading1to100

GOLD 1360'S-1370'S RESISTANCE!!! CONSOLIDATION/DOWNSIDE???

FX:XAUUSD   Gold Spot / U.S. Dollar
Gold from the highs of 1921 :
X= 1921, A=1046,B=1375,C=1122 D=???, currently Gold has completed A,B,C for now and is in the D leg, where does the D leg end?? D=2797 (UPTO 162%*XA), HOWEVER to get there it will take time.
Since price is in the D leg from 1122, expected D leg price targets: See chart for colour coding
BLUE:
AB=1046-1375, C= 1122 D=?, D= 1455(100%) AB=CD ,1545(127%) AB=CD ) & D=1661(162%) AB=CD .

RED:
X=1375,A=1122, B=1295/6, C=1205, D=??, D=1388(100%) AB=CD ,D=1437-1447(127%) AB=CD & XA , D=1500-1535(162%) AB=CD & XA. As the price did not fulfil 1388 AB=CD and stopped short at 1350's-1360's (88%) of 1375-1122
there is another pattern emerging where

GREEN:
X=1375, A=1122,B= 1357, C=1237, D=??, D=1472(100%) AB=CD , D=1537(127%) AB=CD , 1619(162) AB=CD .

So what now, there are 2 price zones where prices could stall:
1st confluence: 1437-1472.
2nd confluence: 1500-1537.

support level: 1330-1320/1310-1300 below then 1280-1260, break below 1237 then 1205-1122.



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