I looked at that @ $1,392 and $1,345 tends to form a with a valley @ $1,240 with the possibilities for pullback @ $1,275/80 and if the valley breakout it will bring gold to the first target around $1230/25.
When prices turned down from $1,345, the price movement also has formed a with the valley @ $1,280 with a Downward target to around $1,250/45 with the possibility of pullback level @ $1,275/80. So at least @ $1,275/80 it's may be a pullback level.
Now the price has moved below 50% (around $1295) and 62% (around $1,270) on average of the height of the cup. Does this indicate that my GPS is still good ? I'll wait and see then come in to that area.
Frm the desk of newbie