XAUUSD at critical support: Gold trend to be determined
Aggiornato
Current price is approaching a critical support zone.
There is an exact confluence of two 2.618 Fib extensions.
The Red is the downward wave, and the Blue is short term upward wave.
Where two such important and opposite ripples meet, there is often a battle.
Lets see how this plays out.
Background:
I am currently short, based on this plan
I am of the opinion that it will continue downwards as the stock markets recover and the Fed keeps raising rates.
There is an exact confluence of two 2.618 Fib extensions.
The Red is the downward wave, and the Blue is short term upward wave.
Where two such important and opposite ripples meet, there is often a battle.
Lets see how this plays out.
Background:
I am currently short, based on this plan
I am of the opinion that it will continue downwards as the stock markets recover and the Fed keeps raising rates.
Nota
So here we are, orbiting the two 2.618's like binary stars. Nota
Wow, quite a bounce off the crucial zone 
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