Wednesday, February 11, 2015

SUPPORT TRENDLINE IN XAUUSD (GOLD) 11/02/15


• 1234.0: Fibonacci 61.8% retracement for the recovery from yesterday’s low.
• 1230.8: micro term 85.7% retracement, calculated for the rising move from Friday's low 1228.3 to yesterday's high 1245.9. This level was tested yesterday when the price bottomed at a daily low only 3 pips above it.
• 1227.8: medium term 57.1% retracement level, calculated for the rising move from Jan 2nd major bottom 1168.0 to Jan 22nd 5-month high 1307.6. This level was tested on Friday with amazing accuracy when the price topped 5 pips above it, before rising more than 150 pips.
• 1225.0: Jan 13th daily low.
• 1221.3: medium term Fibonacci 61.8% retracement level, calculated for the rising move from Jan 2nd major bottom 1168.0 to Jan 22nd 5-month high 1307.6.
• 1217.6: Jan 12th daily low.
• 1207.9: medium term 71.4% retracement level, calculated for the rising move from Jan 2nd major bottom 1168.0 to Jan 22nd 5-month high 1307.6.
• 1204.6: Jan 8th daily low.

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