Wednesday, October 2, 2013

Xau/Usd : Wave B to retest resistance

It's been a while since i posted, but the last post was about gold against the us dollar and things turned out as expected, perhaps just a little deeper end of wave (A), but still against valid fib targets, 150% for wave C (more common is 100%) of a complex double three (3-3-3), and wave C was a flat wave (3-3-5) with wave c of C being 161.8% of wave a of C.














Since the wave (A) low at 1180, price has gone up in what appears to be a corrective way, which is what I am looking for since price is in a wave (B). The decline from 1433 is possibly allready finished because price is at a 61.8% fibonacci retracement and wave c is 76.4% of wave a, but could very well go lower one more time to test the 76.4% fib retracement and the wave c is 100% of wave a level.

2 comments:

  1. It is great to hear from you, Jeremy!
    Like always, your counts are a learning experience.

    All the best wishes to you and your dears around you!

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  2. Your analysis is quite informative and interesting. It will be nice to read more of your posts.

    ReplyDelete