Long-term trend reversal in play

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
Gold price is expected to make a pull back towards $1,150-$1,190 in order to complete wave 2 down, before the resumption of the larger bullish trend that has started. This scenario gets canceled if Gold price breaks below $1,045 or if the rise from $1,045 turns out to have a corrective pattern.
UPPER BLUE TL holding, time to buy now?

I am adding to my physical gold this month as I did last December. However, I still expect to see a January low in gold, then a rally to mid Feb. Then we'll see.

I can post a chart if someone tells me how to do it on this site. It shows the key reversal channel lines.
+1 Reply
5898928 GoldTrendsNet
@GoldTrendsNet, I am not a master of TV, but maybe you can post link to your chart picture here
Of all the scenario`s I see, this one looks to be likely !!!
5898928 GoldTrendsNet
@GoldTrendsNet, 7 month latter you still sure this working? Blue TL is holding for now.

A close below 1179 next Friday and odds will favor that a new low will occur in gold in 2017. A close below 1060 & we're talking 2018.
+1 Reply

TL keeps being tested ---- but has yet to be taken out. Time must be getting closer.
+1 Reply
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