GOLD The squeeze is ON

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
386 11 10
The triangle is still in play. The consolidation is taking the form of a Complex Correction ( w-x-y             ).
Gold             can drop to the 1310 area to complete wave "e" of this triangle. As long as we stay above 1300,
this structure is still valid.
Gold             and Silver             are now sitting on the lower trend line probably to shake some weak hands ...
I am expecting a resolution of this correction in a week or two.
The first sign will be a clear breakout above 1328 and after 1342.
From another perspective, if you look at the blue line on this chart, we can see the momentum strarting to roll over to the upside for gold             ...
This Mornings fall breaching the triangle. We now have a Flag... Elongated Pennant compliments of theCOMEX at 8:20am Open .
i agree but what is ur target if we break?
Gab Loii
I want to break the 2011 trend line to have a better idea of the wave degrees. It is still possible to go lower than 1300 and be in a Primary 2. Let see ...
I see guys:) I thought you were referring to the "Bollinger squeeze"

Anyway, thanks for sharing your ideas.

We just broke out of the long time bullish trend line on gold now, let's see how it plays out. I mostly do follow Elliot's waves and geometrics now.

We have a leading wedge in the A wave (can only occur in an 1st or A wave) if my wave count is valid. I am waiting for the (e) wave down in the wedge to form, before a bullish 3 wave B correction upwards.

Hi, i agree. Found interesting the title of the chart. There's a TTM (trade the markets by John Carter) strategy called The Squeeze, based on Bollinger and Keltner. Check it out on youtube if you are interest. Nice chart.
Thanks TAS. I appreciate your comment.
no prob. Nice clean chart yours, I like it

I've used Bollinger Bands for a long time. Squeezes happens when volatility decreases heavily, and a breakout is expected. It did happend recently on the spx daily chart, but we do not have it now on gold's daily chart though.
Gab DanielKjoelstad
The "squeeze" i am refering is only the fact that price action is struggling between the 2011 trend line, the lower trend line from Dec. 2015, the support at 1300 and the small triangle ... It is not about the "squeeze" of the Bollinger Band preceding a Big move.
TAS DanielKjoelstad
Daniel I meant a strategy by John Carter that he called the squeeze. Not an actual squeeze. It's a strategy that uses bollinger and Keltner and sets up when the Keltner goes inside the bollinger and triggers when it comes out. Was just mentioning.
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