FOLLOW MY LAST UPDATE, I AM WAITING FOR GOLD TO COME TO 1176 FOR ALMOST TWO WEEKS .
AND NOW IT JUST CAME, AND DID NOT BREAK THROUGH THE 0.618 SUPPORT
I BELIEVE THIS MAY BE THE PIVOT POINT AND GOLD MAY RALLY AGAIN
A BREAK OUT FOR THE BLUE TREND LINE
WILL CONFIRM A BULLISH MOVE
To lean Jack's Full Trading System: http://www.harmonicasia.com/index/course.html Youtube: https://www.youtube.com/playlist?list=PLN0GYK-_EO5Z3Xzp6Sk1bmfzckpkJ5NCx FB: https://www.facebook.com/groups/projacksg/ Weechat ID: 32114564
My opinion about gold for short-term is a little different, I think gold will find try to find support near 1150 - 1155 this month. From the begining of May 2015 until yesterday, 1180 had been a good support and closing below this level yesterday is a confirmation for further downside. However, gold may try to test 1180-1188 before continue to with the short-term down trend.
Lucky to be your 600th follower :) , and following your classes I learned “Sypher” and some more patterns, thank you! Would you plz take a look at my published idea in which I draw a Sypher pattern pic (point C is XA's 1.27 extension) to analyse the XAUUSD could be down to 1162-60, I'm not sure if I draw it right ...... but if it's right, does it mean the protect line at 1168 should be down to around 1160?