Fibonacci Harmonics. What now? XAU/USD 22/8/14

FX:XAUUSD   Gold Spot / U.S. Dollar
518 1
The description in the graph says it all. We are at a significant level, a broken support, but we got a pullback which pretty much supports the Idea for a reversal and a sequel towards older highs at 1345 and 1380.

If market manages to come lower than 1260 it might be a signal for more downside pressure towards older lows like 1240 and maybe 1180 at the end.
1336 would give us a great triple divergent set up on weekly+ charts
+1 Reply
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