EuroMotif

XAU/USD coming into 1st of 3 major supports starting at $1930

OANDA:XAUUSD   Gold Spot / U.S. Dollar
XAU is coming into 1st of 3 major supports.
Watch each level for possible bounce/bottom.
We should see at least a "wave B" bounce soon.

$ 1929 - 1931 will hopefully bounce a bit or slow it.
$ 1916 - 1921 likely to bounce and possible to end a wave.
$ 1895 - 1904 MUST be strong or bulls are in serious trouble.

$ 1958 - 1963 will be first significant resistance above.
$ 1971 - 1958 will be a major hurdle needing many attacks.
$ 2025 - 2031 a good possible top of "wave B" bounce to end.

.

I do not use "Fibs" in the "traditional" manner (retracements).
I use Fibs to plot "Ripples" (extensions) created by "Impulses".
Then look for "Confluences" to map the "interference Pattern".

My TV collection of ideas detailing the Concepts:
Chapter 1: Introduction and numerous Examples
Chapter 2: Detailed views and Wave Analysis
Chapter 3: The Dreaded 9.618: Murderer of Moves
Chapter 4: Impulse Redux: Return to Birth place
Chapter 5: Golden Growth: Parabolic Expansions
Chapter 6: Give me a ping Vasili: 'one' Ping only
Chapter 7: The Mighty 2.618: like a Rook in Chess

.

the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.