Gold is currently retracing back to the 50 on the fibs to create a LH, where i suspect it to bounce back down to create a LL on the Daily and continue its downward push.
The previous leg down it retraced to the 50 on the fibs before it made its LL, the reason for my theory on this current leg.
Remember after every push you will get 1/3 to 2/3 retracement. Any more it will be considered a potential reversal.
The previous leg down it retraced to the 50 on the fibs before it made its LL, the reason for my theory on this current leg.
Remember after every push you will get 1/3 to 2/3 retracement. Any more it will be considered a potential reversal.