So if 7/18 turns out to be an important pivot time (for a 4th wave top), then the next important Fibonacci date projection for the 5th wave bottom in the XAU would turn out to be one day the last week of August: somewhere in the 8/26-8/29 area. That time window would make the entire impulse wave off the January 6th highs equal to 233 days, which is itself a Fibonacci number; would also make the entire correction off the January peak equal to 33.3 weeks (34 of course being a Fibonacci number); and would make the 5th wave thrust lower equal to exactly the number of days of the third wave decline (which spanned the time from 4/1/04 to 5/10/04).
So mark your calendars just for fun: This Friday or next Monday for a turn decidedly lower. And a XAU bottom sometime from August 26th-29th. Never advice, just Fibonacci musings...
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