XAUUSD could reach $1366 if Trade Wars continue: Gold wave 5 ?

27 thg 5, 2019

Gold made a risk-off move to 1300 and then collapsed.
Global tensions are again on the rise for many reasons.
Currency devaluation continues to add to the demand.

Elliott Waves suggest currently in wave 4 with wave 5 to come.
Fib Extensions indicate various Resistance zones to watch for.
Choppy decline suggests corrective (not impulsive) movement.

Current support needs to hold if the 1366 target is to be hit.
Drop to 1250 would suggest a possible double top incoming.
Drop to 1240 would decease the odds of a wave 5 up at all.

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See some of my other Forex calls below.
I also plot Crypto and some Stocks, check my Profile Page.

DXY top call (Upthrust warning just in time)

SPX recent top (Fib extensions at work)

XAU.USD long to short (recent perfect entries)

GBP.USD bounce call (recent scalp entries)

USD.JPY short to long (recent perfect entries)

EUR.USD long term Short (the very tippy-top a year ago)

AUD.USD long term Short (almost at a long term target now)

Of course, I have had total FAILS on some plots also, not going to pretend.
But my plans offer PRECISE entries, TIGHT stops, and EXACT take profits.
Precision is the way of the Fib. Almost every turn happens at a Fib Line.

3 thg 6, 2019

Ghi chú

Sorry for lack of update, been staring at the chart in disbelief, and thinking "what could I say in an update? Hold on tight?" :) Anyway, she made a straight line to my first resistance

Zoomed into the 5min, we see the UNBELIEVABLE PRECISION that Fibs provide even after a warp-speed jump across many galaxies, this ship comes to an instant stop EXACTLY at the pre-plotted spot. Now, not sure this beast is going to drop much, but gotta expect some retrace and this sure would be a good place to start such. Will vbe watching the move closely here, for signs of a downward starting.

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