XAU.USD pullback likely to Continue: Gold to $1490 or $1482

Quick followup to my previous short call (click).

The pullback seems likely to continue at least little further.
Considering the amplitude of wave "A", another leg is likely.
First target for wave "C" is to be equal in length to wave "A".

$ 1496/97 is key support, if broken it should accelerate.
$ 1487/89 is likely target and possible first support zone.
$ 1482/83 is very possible unless some risk news develops.

Previous Gold Analysis (click):

$1515 short call<= Still in play
$1555 top call<= Just in Time
$1406 to $1525<= Called the Jump
$1386 bounce
$1439 top call<= To the Penny
$1332 bounce
$1320 top Call
$1270 bounce<= To the Penny
$1280 break
$1380 call <= 8 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:

Target hit

got a small bounce so far. I think it will drop to that last target yet ...

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Commentaire:

Looks like we are going for that final leg down (dotted arrow) to $1482 ..

will take a closer look to see if any change to targets ....

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Commentaire:

Interesting action around retracement fibs

I dont think that (-).618 will hold, so I think a lower price than $1488 is even more likely now.

Commentaire:

Nice Ping

and right at China markets open, after a week of being closed. Lets see what happens, it is possible that they introduce a new Impulse going UP....

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