Nickonomics

Gold: Triangle Thrust Update #3

FX:XAUUSD   Gold / U.S. Dollar
A concluding part in our series on Gold's             triangular price action.
This time the volatility squeeze has reached extreme readings. Despite a 3-day dollar             advance in most FX majors, Gold             is still consolidating. It is difficult to count waves correctly because of faulty quotes. Compare H4 and H1 charts here, and also check 07/24 bottom price on other trading platforms -- you will see its different. Anyway, we still have a near-perfect technical Triangle setup emerging from 07/31. The breakout is imminent. ADP Employment Change report may be the news to move the market. US ISM Non-Manuf. Composite index is also important today.
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