AMEX:GLD   SPDR GOLD TRUST
456 6 2
Beautiful setup. I suspect that Gold             will probably break it's current ascending 1/2 angle soon and find it's way back down to the main ascending 2/1 angle by following the blue arrows. However, another test and a break of the $185-ish area could very possibly lead to a $222.75 target (+50% of 148.50 - red arrow).
Followed.
Reply
Followed.
Reply
Great bounce! Price stopped nearly exactly on the asc. 2/1! Let's see if we can break the desc. 2/1 in the coming weeks.
Reply
Nice job ! :)
Reply
mrd2015 Algokid
Thanks! Let's see if we see a rally back up to the 1750 level to "complete" the inverse H&S! Disclosure, I'm long gold stocks after today's massive decline. With the close above the 2/1, I think we'll see a bit of a bounce. A close below the 2/1 will be worrisome.
Reply
First part of the retracement is pretty much complete. On the way up, I'll be watching for strength above the 2/1 angle. There is a possible inverse head and shoulder pattern emerging. October shoulder, December head, March shoulder. If the pattern is complete and a breakout above 2/1 occurs, price target would be ~$200.
Reply
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out