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: Chapter 2: Chapter 3: Chapter 4: Chapter 5: Chapter 6: Chapter 7: