JamesEvison
Long

GOLD - Monthly Inverse H + S breakout target calculations

TVC:GOLD   CFDs on Gold (US$ / OZ)
Spotted what looks to be a clear Inverse H + S pattern on the weekly/monthly timeframes however alot clearer on Monthly
- Clearly defined "Head" + "shoulders" + Neckline
** Typically to calculate a target for such a pattern you would subtract the price of the neckline level from the low that the "head" of the pattern formed.
**You would then add this price to the breakout level
As such:

Neckline = ~ 1375
Low of "head" = ~ 1058
Breakout level = ~1375

> Neckline - Low of head = 1375 - 1058
=> $317
> Breakout level + $317 = 1375 + 317

=> ~ $1692 TARGET



Thanks for your clear and concise posts - love them :) x
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thanks i like learning from you, its a great way to understand the different patterns and try to also work them out myself.
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Solid study sir
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