US GOLD Expanding wedge A limited retracement before our 2016 TP

29 באוק׳ 2023

Pine Script®

XAUUSD Since the start of the current up leg from 1977-1978 XAUUSD got nearly no retracements. I expect Monday opening to be alike. The reason is that the price action managed to reach a new Equibrium area located @ 2004 price level.

The previous Equilibrium level was the 1977 area and we kept it for more than a week.
I think it will be the starting point before getting to our TP in the 2015-2016 region.

I'm that M30 chart you can see the price action to attain 2009 in the upper zone of the upward expanding wedge. 2004 is a Fibonacci level from this Higher High Pivot high.