Early 2018 : End of bear market ?

FX:XAUUSD   Gold Spot / U.S. Dollar
1241 8 26

Gold             is still in bearish trend if you take a big picture in monthly view.
The top done in july at $1375 is maybe an intermediate top before a new low which could be hit in 2018 at $980

Indeed, as you can see, the trendline from september 2011 should be hard to break imho             .
Next, gold             doesn't yet make its pullback on a structure made during the 2008/2009 years (between $990 and $970)

The SMA 200 could join this price of interest of the end of 2017 / Early 2018.

Regarding my approach with harmonic pattern , an AB=CD Bullish could be completed on these levels.

Just a note, a thought. Not a trade for the moment.
Thanks for the sharing,
I guess the overall market prediction by the chart experts here shows bearish movement this month. Is that confirmed ?
thank you for sharing
yes it is..! the bearish EW time frame is also same ;)
pixi VRShaiju
Thanks for a confirmation VR ;) (i saw your EW long term chart)
Hello, Pixi. Very intriguing setup. Fully opposite of which I prefer to follow right now (look here: https://goo.gl/qrX41a). So, does it mean FED decision will clear which one is more possible to be realized? Good week to you, excellent forecasts. Good luck in all the trades.
pixi FreshOilTrader
HI FreshOilTrader,
Yep, i have a bullish setup also:

But until gold is below of its the long term bearish trendline, i see a correction at least and/or a new low in the best case.
Don't waste your time with hike, no hike, refer only to your chart. Chart tells the truth not the news.
+1 Reply
Yes, I like this one. And thus very clear possible move to 1480-1520 (as break the channel) and futhure drop to 1360 area as upper channel retest. Anyway, will see. Fully agree with you, that no news, just clear and objective chart analyze. Good trades and huge profits to you!
+1 Reply
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