Gold Again: The Fibs don't FibHere is another look at Gold on the all-time chart. Indicators are directional movement index, correlation coefficient with BITCOIN , and a set of Bollinger bands . I like my bands to be drastic and i use OHLC average method, the reason being that I want to see all those fluctuations, I want the constrictions to be painfully obvious because constrictions signal a potential move. I'm also anticipating a strong support and bounce off the 38.2 Fibonacci line. Price could come down as much as $200 (though this is not guaranteed) in following an Elliott corrective wave (4) before continuing upward in a culminative, motive wave (5). Happy Hunting Everyone
