XAUUSD retrace watch: Gold has one more leg UP ?

Gold seems to be in a 5 wave impulse move up.
Currently looks to be in a wave 4 pullback.
Wave 5 has yet to start, but should do soon.

Commentaire:

Pretty solid fib of the dip

The above micro-EW indicates we are headed for the lower target to end bigger wave 4

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Commentaire:

This blue micro- fib was confirmed early on with 1.236 and 1.618 pings

The susquent action indicates the blue 4.236 end of wave which lines up prefecly with red 3.236 from next higher tf

thus 1281.78 my next target.

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Commentaire:

three short term fibs pointing to 1281

and higher tf fib proved 1276 important

so will be observing 1276-1282 under microscope

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Commentaire:

1276-80 still looks good

Commentaire:

Precise rejection at the confluence of 2 fibs

So this 12345 to the bottom of our support zone looks quite plausbile still

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