LT Gold Target using Fib Extension...
Started by
JGUITARSLIM
, Nov 18 2009 06:47 PM
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#1
JGUITARSLIM
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Posted 18 November 2009 - 06:47 PM
Looking at 10 year chart of Gold, one can see how well the 1.618 Fibronacci Extension of the initial bull leg (2001-2006) correlated with the 2nd leg peak in early '08. The 1.618 Fib Extension of the rally from 250 to 1020 ('01 to '08) is 1500. [1020-250=770 , 770 x 1.62 = 1250, 1250 + 250 = 1500]
