2lalit
Long

GOLD IS STILL PLAYING INSIDE THE 2ND OF 42D

FX:XAUUSD   Gold/U.S. Dollar
125 1 3
THE 2ND OF 42D WILL END ON 2016.09.26, WHERE THE BULLS MUST BE ABLE TO MAINTAIN THE LEVEL OF $1308/$1287. BUT THIS WEEK (2016.09.19), EVERYONE IS WAITING FOR THE FOMC MEETING. WHAT WILL BE GIVEN OF THE RESULT OF THE FOMC MEETING ?

COULD $1308/$1287 SURVIVE ?
Since the $1375 High 2016.07.04, price still trapped under 2011 Descending Trend Line (2), and during the period of 11 weeks (77D) looks seems that prices move in the consolidation, because it seems like there has been no Sell Off action when prices deterred by the 2011 Descending Trend Line. This seems similar to the price movements when the price will go through 1307 High 2015.01.19, starting consolidation from February 2016 until April 2016 (1).
If the consolidation movement that came to play, then the movement tends to form Bullish Flag Pattern, with an Upward Breakout Estimated are at the Week 11 (2016.09.19). If this is true, then the Phase-3 is likely to be the same as the Phase-1.

--- From The Desk Of Nubie ---
albertwt
2 months ago
Hi Mr. 2lalit,
Do you think this week is the good time to buy Gold based on your graph ?
Reply
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