DislikedWhat market is that with a price of 1251.33? Gold trade in the 1260's all day ... and night. Anyway once correction is over downtrend most likely will resume.Ignored
For now 1277 handle must be taken. Then little or nothing to see up to 1302 handle it will possible go quick up to next handle when 1277 is taken.
I think we can range for a period 1240 - 1277 area , accumulation zone.
Green is previous leg up , with prediction next leg high ( I do not look time only ratio )
Blue is shorter term leg and the expectation for max next leg before new main retracement.
The pink one is retracement legs and predicted one that is overextended or oversold
Yellow and gold is main S/R areas and short and middle term targets
Orange some short term S/R levels
Red is long term targets.
President election US and FOMC , + Non farm Nov, Dec can be big movers.
Market has expectation for rate hike. I think a hike will after done, short term weaken the USD since market been trading the expectation for rate hike already for some period .
For President election market trade expectation that HRC will be the winner. If Trump should win I will extend targets short term. IF Clinton become winner not much effect short term IMO.
Trading in the shadow of SM