...and bullish cont. With recent $ weakness Gold grows stronger.
Comments
HatZ
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Its possible. If you move the chart back a bit, you can see a larger bull cypher which completes on the bottom trendline.
Is it possible that the bull gartley here will result in a small bull retracement, it will continue down to complete the cypher before finally heading upward?
fximperija
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I saw the cypher you are referring to but the structure for the impulse leg is weak, just a minor res. area with no real ret. On the other hand the impulse leg I choose has a nice ret. for the move up which created this possible cypher. So, I don't imply that the bigger cypher of yours is not going to complete, just my observation and reason not to pick that one for my trade setup. There is one more reason to believe that you might be right. Looking at your X there was no ret. to this structure level, a test, a confirmation, so the PA might as well drop to those levels testing and confirming the breakout. We'll see. The Ukraine situation is very sensible and markets will react. Looking at EURRUB and USDRUB, very significant moves.
Is it possible that the bull gartley here will result in a small bull retracement, it will continue down to complete the cypher before finally heading upward?