Gold eyes on 2455.51: Sister fib of our bouncer and may Reject

May 20, 2024

Part of my ongoing analysis, see links below.

Quick post to alert of a possible pullback incoming.
We are rapidly approaching a Genesis fib at 2544.51
Its sister fib is what bounced us strong from 2307.19

It is PROBABLE that we get some retrace from it.
It is POSSIBLE that to get a significant top here.
It is PLAUSIBLE to break and retest to continue.

.

Previous plot of the Big Picture calling for $2700:

.

Followup calling for 2300 retrace target:

.

I will post updates as price action progresses.

============================================================================================

May 21, 2024

Note

Pullback as expected:

Did not quite make it our fib, at 2455.41
which is a bearish sign, as bulls are tiring.

.

Zoom in (m3) and add a fib to the dip

The first wave ended at the 11.089,
which is a golden exponent (1.618^5).
Then many pings confirm the full series.

.

Zoom out a bit (m8) and including all fibs:

Gives a nice roadmap of zones to watch,
and a possible ABC correction with 3 targets,
with a "Speed Bump" that must slow the drop.

.

May 30, 2024

Note

Well that was a disaster!

Blew through all of our supports, including our "worst case", LOL.

,

Zoom out a bit (h1)

Brings 2307 into sight below, Genesis fib
plus local fib doing down.

And just above we have reinforced resistance at 52.36 - 54.75


So now we have clear boundaries to watch.
Break in either direction should continue strong.

============================================================================================

.