XAU.USD on track to $1450 target or lower? Gold Fibs and Waves

Follow up to my Bigger Idea Published Here (click).

Gold looks to be in a perfect "ABC Correction" per Elliott Theory.
Wave "A" had 5 subwaves, and "B" had 3, and "C" should have 5.
That structure fits with the target indicated by the Fibs thus far.

1455 - 57 is my minimum expected target, and will probably bounce a bit.
1459 - 50 has been my Likely Target for some time now and still looks good.
1435 - 40 has become more likely now, but it should create a good bounce.

BTW: My call for a bounce yesterday was NO GOOD :(
And yes, the old proverb applies "Bottom Picking is a Stinky Business".
But my zones are very likely to catch "the bottom" if not "a bottom".

Previous Gold Analysis (click):
$1555 top call<= Just in Time
$1406 to $1525<= Awesome Long
$1386 bounce
$1439 top call<= To the Penny
$1320 top Call
$1270 bounce
$1280 break
$1380 call <= 5 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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Commentaire:

All targets seem quite plausible still

the high 30's seems likely.

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Commentaire:

Got a decent bounce as expected

That should be wave 4 with wave 5 down to come. Wave 4 might go a little bit higher yet, but probably not much more. We should see an attempt at the 1450 target in the near future.

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Commentaire:

so much for that count, had it wrong near the end.
Now we have broken the two immediate resistance zones.

Market sentiment went risk-off today across all sessions, stock plunged and gold got bought!

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