Gold followed Feigenbaum projections nicely with a retracement down to fib -0.6714 before extending higher into blue target zone between fib 3.5699 and 4.6692. Should turn down from here
The recent 63K high closed the weekly imbalance (FVG) from previous ATH at 69K. On Daily TF the Feigenbaum fib projections are panning out perfect, with a first test of 1.6714, a retracement to -0.6714 before extending to target 4.6692 (and zone above). Next move would normally be down, and reaching external liquidity at 38K frist, and then perhaps all the way...
Based on Feigenbaum projections, it seems we are in the final leg up before a bigger reversal to the downside. See how the price reacts to the Feigenbaum levels (highlighted with red dots). I expext price to reach up to 17986 before turning down. This should all happen within the blue vertical lines, which are Feigenbaum projections on the time axis.
Based on time fib for daily TF we can measure the manipulation leg that took out a HTF low or high, the next opposing high or low falls within time fib Feigenbaum constants (3,5699 and 4,6692) of the time for this manipulation leg (target areas marked with vertical dotted lines). This suggests that based on the recent high of 17165 for NS1! on 29th December 2023,...
