Fib_Predictor

Fib_Predictor

Gold has been in correction after reaching ATH and there is still lots of profit in shorting at accurate levels. I cleared the chart and made it as simple as possible which is always much better to see what's going on. There is a clear rejection outside the channel and we see a dense rising wedge at 4H. Bulls may think about taking profit inside the green triangle...

Fib_Predictor

Gold seem to complete the megaphone and then the butterfly. Trade safely.

Fib_Predictor

Now that I'm kind of exercising and fantasising around, let me tell you gold's fortune on the chart. 2017-2018 projection I see is exciting. Gold has seen 1022 recently and some think it's THE bottom. Although it might turn out to be true, I still see some room left for the bottom to print: 1117 is the 0.786 fib level, 1090 area is the big ass trendline...

Fib_Predictor

1318-1327 swing is possible, but I'm also expecting a drop to 1305 in a few days (maybe even today). I'll long if it bounces from 1300 and put TP to.. well, sky is the limit ;) Nevertheless, I'll have my SL at 1295 because I suspect price might go for 0,618 which is 1297. If it breaks 1297 downwards, then 1275 gets on the table and I'll be cautious arond those...

Fib_Predictor

1318-1327 swing is possible, but I'm also expecting a drop to 1305-1300 in a few days (maybe even today). I'll long if it bounces from 1300 and put TP to.. well, sky is the limit ;) Neverthe less, I'll have my SL at 1295. If it breaks 1300 downwards, then 1275 gets on the table and I'll be cautious arond those levels. GL to you all.