FX:XAUUSD   Gold / U.S. Dollar
191 4 10
White log-based fib calculations are a bit premature as wave (2) hasn't confirmed a bottom. These are based on a bottom at 1199.55 for illustration. Regardless, this is the bullish case should support hold and wave (3) take hold. Targets to be refined further after (2) completes with added confidence on 1-2. Timing uncertain, so don't interpret the labels as predictions on the calendar x-axis...
Corrective structure in price over the past few months is not suggestive of new lows below last December's, at least not while price remains in support.
Comment: I see my annotations got resized. Thanks tradingview...
Counting last year's low as primary degree C of cycle wave II. In other words, a generational buy...

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