Fed will decide to hike the rate this year on 1st of November and on 14th December. Fib Time zone and Trend based Fib Time zone on this chart shared adate 31st October, i hope the retracement will occur at that day, so expecting a downfall on 1st of november (imo). This would retrace according to the fib circle and then jump from the 0.5 of the pitchfork tool, i.e half of centre and bottom of pitchfork tool and then go upwards for wave 3. This wave 3 is expected to touch the top of pitchfork (1x) near 1st week off december, i.e. at 0.75 of gann box. After that it is expected to go for wave 4 till 14th December (junction of fib time and trend based fib time). So, imo the prices will go up on14th December rate hikes. And after that wave 5 should finally reach above the pitchfork tool (2x) by end of 1st week of January 2018.
They don't "schedule" hikes. They schedule Fed meetings.
No decision has been reached for any of the meetings yet although the marketed suspected 1 hike in December, although the horrible inflation numbers have even put a damper on the market's expectations.
Now, any fed actions, such as hikes, come in live meetings, ie September, December, etc. Unless it is extra ordinary, there is nothing done in between.
Your analysis on gold may be right, and looks like it is, but you are COMPLETELY wrong on the Fed. there is NO SCHEDULED HIKES!, Jeez.
ManipulatedAnalyst
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@MaksimFA, Ah, well thanks for that info. You are correct those dates are meeting. Thanks for clarifying that. :)
Then i hope the fed decision on 14th would be in favor of gold.. :D
But just worried about in geopolitical issues.
And with lackluster inflation data not certain December will happen either. And hike is bad for gold