JohnLiv

OW MY have annalysis for this, indepth analysis of previous idea

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
I need to first bring up some previous idea’s and supply some information about these first, so you will better understand my reasoning for my charts path:
We all know about the sudden 800 pip drop on Friday, 28th February, it was brought to my attention, that this drop was triggered by this article:
www.marketwatch...lops-2020-02-28?siteid=bnb... (source: see comments on above chart).
That being said if we take a look at this chart:
A few notes first price lines placed at 1588, 1640, 1694 and R/S 4.6 chart line. At the 1640 price line gold moved away from my trend line and moved towards the 1694 line, at R/S 4.6 we start to see retracement to 1640, around these area’s twice I show possible movement to the 1588 zone, for this reason the news to me just speeded up the eventual retest, this is the reason that on the first chart above I wrote “can be construed as a required drop before the launch north”.
So why am I seeing 3000: After the chart two months long, I started looking for the path to what I assumed was the 2200 high, no matter how much I tried I could not get the math’s behind my strategy to work, not sure why but placed a trend curve from my first green fractal using the 1st fractal group as a guide, this completely misted my projected 3rd fractal group, conclusion, the 3rd fractal group was incorrectly placed, but the curve gave me its location, ‘OW MY have analysis for this’, was born:
and this new chart was created to complement it.

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