Yen, Bonds, Metals all getting along today for once. Camarilla range fully explored. GLDSLVGDXGDXJ
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Whenever you see a range explored between the CAM S3 and R3 pivots on ANY time frame, the general move after is a mean reversion to the previous period's close, which in this case is the 2017 close.
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The circled pivots above are Camarilla Year S3 and R3. XAUEUR completely pinned (for now) between them.
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Major give back in the last 48 hours.
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The entire price history after topping out near Year CAM R3 looks like a pretty good bearish impulse wave.
@Saeglopur, No I meant that it started its move up... then gold simply crashed and burned this week relative to all the currencies. Gold is more oversold than it has been for at least 4 years at this point.
Saeglopur
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@mortdiggiddy, Well we are at my target and very oversold but still it all looks like this move will last more, now we are in second small correction. Take a look at my analysis but for XAUUSD, it's from June, click play and look how well it worked so far :D