Disliked{quote} No problem. I was just confused why that was quoted to my message. Anyway to add on gold, If we don't break 1912, I'm expect a Daily retrace down to 1840-1845 region at minimum. Based on fib retracements, the current move up has 38.2 retracement level at 1823. If price heads there and cools down, we have a potential to push up to 1950. If I were to estimate with elliot waves, I would say we are still missing a significant down move regardless here.Ignored
We are still missing the retracement level at 1823/5 and this area coincides with extension of current down move at around 1829. Yesterday's retracement already gave us 38.2 of the down move at 1866.95.
50 fib retracement of previous down move lies at 1873.84 while 61.8 lies at 1880.72. I'm starting to be unsure of that push up into 1950 now. If anything, probably a retracement towards 1880 before a drop down to 1823/5 will be likely. It may bounce after that past 1916 but at this point, price is trading along 200EMA on 4H so it is very much a make or break level.
I do hope it can get up to 1880 first for a more significant retracement. What are your thoughts DA?
A 1 pip gain is better than a 1 pip loss.
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