The "Highest Low" hasn't been outside that range yet and the "Lowest High" hasn't either.
The giant bi-distribution pattern around $1255 and $1325 as seen in the pattern on the right means the market has two scenarios it is trying to discount.
Short term there is a small, 7-day uptrend in place from the 7-day accumulation pattern that set-up from 1255-1257 through the 17th of October. When that rally phase ends, a decent trade is to shoot for a retest of that level. It could lift to 1279-1281. Risk is $10 on any position. The rally phase ends Wednesday.
Short term: Long for a rally to 1279-1281. After that, short with a target of 1257, 1291 stop.
Gold now has an 8-day uptrend signalling, which is a bullish, accumulation signal where new buy signals occur at higher prices. This new structure implies a move to 1295 over the course of the next 8 days.
Gold is going along the project path (amazingly)
Low risk entry here with a stop under the 8-day mode (the black line)
XAUUSD 1266.45 -7.19
I don't know what to say at this point.
Target practically reached and only a day+ remains in the 8 day rally.
I did post an even higher exit in the Key Hidden Levels Chat Room, but I didn't update this here. If you want to be on top of my latest view, see me there in KHL's chat room.
Tim 4:39PM EST Nov 7, 2016
When the market "range expands" away from a zone, don't count that time as part of the mode because it means the market is moving quickly away from that level. So it seems the last bar isn't counted as part of the mode, and therefore it is only 7 days. Then, notice there is a mode at a higher level, which is as long or longer, so that mode becomes the new measuring stick. Try to show just the bars in the window so we can see much more clearly. Indicators are not that necessary once you know how to read just the bars all by themselves.
Cheers Phil and thanks for the question.