Parabolic And Cup &amp; Handle Pattern

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trendanalysis chartpattern gold xauusd parabolicmove preciousmetals breakout yellowmetal goldidea xauusdlong

trendanalysis
chartpattern
gold
xauusd
parabolicmove
preciousmetals
breakout
yellowmetal
goldidea
xauusdlong

I assume Gold will form cup & handle pattern. We can clearly see the cup and the handle will be formed before major breakout. It has to correct before breakout. The correction could last 4-6 months or more. Be Patient.

Comments

I think most if not all people are looking for a CUP and handle pattern, and while patterns help to give an idea it doesn't have to play out that way, nor does it need to correct before we push for new highs. My take is we continue to push higher, probably up to 2300 before retesting 2K.