50% retraces are very common in a bull market probably the most...

50% retraces are very common in a bull market probably the most common in early to mid stage of it, im not suggesting to trade on them, picking perfect top and bottoms is pretty much impossible

XAUUSD daily.. a lot of upper wicks in the last 6 days, 2nd time hit a lower high.. actually that line was where i was guessing it might stop on the first peak
if it breaks to a new high in USD from here then i'd have to pick new levels for retrace levels.. but for now it looks like it needs a breather. it also matches the approx break out of the 2008 low inverse head and shoulders before its first rest as a % move.
it could do a 4 to 6 week pullback and go again and it wouldnt even be seen on a quarterly candslestick, nothing goes in straight lines without pullbacks along the way