TVC:GOLD   CFDs on Gold (US$ / OZ)
235 5
This is my last gold chart and will create no new until we go outside orange symmetrical triangle bottom 1385, top 1440. We stuck inside orange and violet symmetrical. No clear direction on longterm. So if you want gamble scalp, lets go. If you want open safe trade, then wait. Inside violet where are we now is not clear direction. Above 1424 it can test orange top 1440, under 1398 it can test orange bottom 1385. On this you can earn something, but clear trade is above 1440 for 300-600 (30-60$) move up and under 1385 you can catch 400-650 (40-65$) move down. On 4h can forming now bear flag but as its friday + PPI news in 1.5h is nothing sure and not about gold . I not give you as people think 2 way now and on both way i hit TP, no !! I wrote sell under 1385, buy above 1440. If you havent patience, lets go, lose money. If you have patience, then wait for that numbers i posted. GL
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IMHO symmetrical triangle is a continuation pattern to the previous trend. no?
Reitak tsippi100
@tsippi100, symmetrical is no signal, thats why it need break top or bottom. Only ascending descending is continual
@Reitak, Thanks 4 your comment. Well' I also thought like u /was just reading about it the other day in the book of John Murphy TECHNICAL ANALYSIS....MARKETS" - That symmetrical triangle r usually a continuation pattern and represents a pause in the existing trend.
I could not agree more with you.
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