After the fall of gold to the downside of 1760. which is also 50% of the monthly fibonnacci tool. GOLD stood up and boom above 1850. but along the way gold created a w harmonic pattern which carries a unique candle at the neck line. so today or tomorrow we going to see gold reach the golden ration of the fib tool which is also the W NECKLINE before its celebrates...
I apologize for my previous analysis yesterday, i said gold was going to fall without looking at the higher timeframe.
Gold closed with an bullish indecision candle yesterday which means the preceding candle will fill the wick towards one of the fibonnacci levels.
on the 1h timeframe we can spot a slowly rising price of gold by plotting out your trendline...
Gold just completed its retracement or correction and know its headed downwards towards 1761 which is monthly support and also the 50% of the fibonnacci taken on the monthly timeframe before heading north next month.
Aussie dollar as been ranging for months now . a sharp rise was witnessed during the election night,which blocked Aussie from retracing then.but know bulls are in control. the fall is short term to gather liquidity to take the Aussie higher
GBPUSD Broke out from Previous resistance turning it into support without pulling back.we thought it was an uptrend but no its not.It got to the mid zone and started retracing.sell the pair to the demand zone before buying to the upper resistance.
GBPAUD preparing for an uptrend.after retesting the Creating a w pattern and now it has retraced to the neckline which also lines up with a level of the fibonnacci which is 38.2%.
