Monthly XAUUSD is showing extreme bullish signs. As we can see from the previous lows and highs from 1977-2001 the high at 854 was met with a 0.786 retracement bottom level at 2001. From there we saw the start of wave 3 which took us to a previous ATH in 2011 August. Since then we have retraced at 0.786 again closing the deal in 2016 to grow for the next move ATH 2020. These retracement levels are key and a beautiful pattern to observe. The recent drop after the high found support at 0.236 and has since leaped back up - amazing signs of strength imo looking to complete wave 5 around 2400 zone.
My analysis is not gospel.
Bear scenario is hunting for the MA-SMMA's below shown as white lines.
Good luck.
Universal patterns are universal
My analysis is not gospel.
Bear scenario is hunting for the MA-SMMA's below shown as white lines.
Good luck.
Universal patterns are universal