XAUUSD blow off top? Gold retrace Support zones to Watch

Quick plot to map early expectations of retrace zones.
The Elliott Waves are a rough guess of possible pathway.
The Fib Zones are solid, each one should cause reaction.

1379-1380 is the minimum retrace expect-able.
1374-1375 is the likely end of bullish retrace.
1357-1358 is Bull's Last Stand before collapse.

1362.67/72 is a special case of exact confluence.
Those two lines had better bounce it hard if hit.
Below them is danger, risking possible collapse.

(Sorry for so many lines, did not have time to clean it up)

Previous Analysis:
$1332 bounce
$1320 top Call
$1270 bounce
$1280 break
$1380 call 4mos ago

评论:

Updated EW plot

if wave A, it went a little deeper than expected but perfectly normal levels. Now lets see if we get a wave B (Bull Trap) going into US session (currently early UK session)

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