Let me explain. These are all Fibonacci Extensions. The Market Maker is officially done imo so I am very comfortable posting these finished schematics. Many Extensions reach the exact ATH at 69k as you can clearly see...
The Schematics are numbered Chronologically.
#1-#8 are placed in the order they were created.
#3 are the SUPPORT Schematics that are...
Let me explain this. ALL SPIKES ARE THE SAME. However, the different timeframes and chart scales create 4 unique layouts for both Daily and Weeklies.
The top two are Dailies and the bottom two are weeklies. I have labeled which chart scale they are on.
THE TOP TWO HAVE RESISTANCE SCHEMATICS (THE SAME TWO) .
As in, the extensions are RESISTANCE (IN RED)...
Primary Chart: 2D Chart Showing Downtrend Parallel Channel, Fibonacci Levels and Major Support at YTD Low
Gold OANDA:XAUUSD could be nearing a tradeable low. The primary degree of trend remains bearish. Lower highs and lower lows on the daily and weekly chart appear. The downtrend channel on a log chart (or linear chart) has contained highs and lows since...
