Is gold ready for a major correction ?

1860 is the 100% Fib extension. I reckon XAU needs a major correction, at least to the "potential target 1", an excellent risk-reward ratio for sure.

This analysis fails if it can break out and close above the 100% Fib extension.

PS: Please don't trade this analysis blindly, do your research before you enter the trade. I'm too busy with my clients, and I'm not going to share the updates.