JohnLiv

Gold Long Term projection, Short to Long

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Following on from my previous two ideas’, 'Gold to 1700 soon, 1800 not long after', (see below), shows the rise as projected but with some correction first, because of this correction I see gold dropping from below the top of the fractal and not above as shown, this is also the same as the copy fractal from 2013. (see Gold south to north projection with pace below), although the momentum may continue North I believe a correction is still required to give Gold the thrust to new highs possible areas of retracement to:

1453, possible but I believe not enough correction for new highs

1383 - 1363, I believe the most likely of the retracements with the correction required, but if momentum drops here I see a further slow climb before a further break to new highs

1286, Massive correction a push North would be with pace, this would also follow the trend from 2013, so very much still on the cards