At the end of April we had a nice setup in Gold. That is a bit easier to see on the 120-minute chart.
We had a price cluster of support at the 1751.90-1754.20 area. This cluster included the coincidence of at least 4 Fibonacci price relationships. It included 2 price extensions, a 100% projection of a prior decline and a .618 retracement of a prior swing.
So far we've seen two upside targets met on the upside with a rally of $90. If the rally continues, target 3 is 1869.20. The fact that we've met two targets already however, suggest a relatively tight trailing stop as many moves tend to terminate at extensions of prior swings.