XAU.USD headed to $1480 next? Gold retrace powered by good news

Quick plot going into NY session on Friday to end the week.
Asia went heavy Risk ON, Europe and UK equities are rising.
US-China trade talks has some good news releaded (suspicious).

Plotted are three Support Zones of concern.
EW waves are a pure guess but looks "kosher".
Correction to continue for at least one more leg.

Expecting a bounce until NY Open.
Then we should see strong leg down.
If not, then the plot comes into doubt.

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Previous Gold Analysis (click):
$1515 top call<= Awesome Short
$1600 then $2100?<= Still Plausible
$1460 initial retrace
$1555 top call<= Just in Time
$1406 to $1525<= Called the Jump
$1386 bounce
$1439 top call<= To the Penny
$1332 bounce
$1270 bounce<= To the Penny
$1280 break
$1380 call <= 8 mos ago

Of course, I have had total FAILS on some ideas too, not going to pretend.
But all of my plots show PRECISE entries, TIGHT stops, and EXACT targets.
Precision is the way of the Fib. Almost every turn happens at a Fib Line.

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评论:

Just got our first test of the "Tired Support"

评论:

Target hit!

keeping some open as we may be going for the extended target since this is the first bounce.

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Fib-Ray of the rapid drop

Even fast moves have to follow the rhythm.
I am thinking final target for this wave is the 9.618, but expecting a wee bit more of a bounce before continuation.. maybe, it got sold HARD !Q

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评论:

That may have been "it" for the bounce

lets see if now start the final decent to come in for a solid landing for the weekend.

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1475.30 ought to bounce a bit

but I think 71.5 is on the menu

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