London did not disappoint yesterday, with a strong push at open.
New followed through somewhat, after some stop hunts.
We may now be completing or completed this 5-wave Impulse.
$ 1509 is immediate resistance, could be strong.
$ 1515 is likely end of wave if it reaches there.
$ 1505 is key support for trend continuation.
All in all I am quite but expecting a pullback soon.
These 5 waves could be sub-waves of new wave "1" of next 5.
The retrace may turn out to be a wave "2" with "3" to launch.
Previous Gold Analysis (click):
$1600 then $2100?<= Still Plausible
$1460 initial retrace
$1555 top call<= Just in Time
$1406 to $1525<= Called the Jump
$1439 top call<= To the Penny
$1320 top Call
$1270 bounce<= To the Penny
$1380 call <= 8 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.
break below 1501 should hit 1498,
break above 1503 should hit 1506
Looks like UK session might have to make the next move again.
Awesome reactions at the Fib Zones:
Strong forces at work but could only push between existing bands thus far.
Zoomed in, we got a spike and then a drop just now, showing two clear Waves
Beautiful Stair-Step action on the second wave.
First wave was violent, went to the 2.618 straight away.
Second wave far more controlled,
like a mine sweeper going back over to make sure they are all gone.
zooming out a wee bit and adding the ripples from earlier large wave
down lower around $1505 at the 5.382 is of real interest to me now.
That may also paint a "double bottom" or "inverted Head-n-Shold", etc.
losed some when it hit the 4.382,
half still riding long with SL at a loss of only the profit thus far on this long.
HERO or ZERO I guess :)
that 5.382 sure seems to be doing the trick,
US CPI report out later, so am out for now.
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