Cup and Handle

FX:XAUUSD   Gold Spot / U.S. Dollar
Graphics for fun, but "true pattern analysis" with this likely cup&handle pattern.
$1430 target.
Comment: Pullback seems done.
Bullish AB=CD.
Add long at $1243.

I m not intreted in the analysis however im very intrested in the painting!
how can i draw like that?
Best entry at 43! I am waiting for a bit more confirmation...
Coming true?
pixi SevenTwoAllIn
@SevenTwoAllIn, Too soon. We have to wait the reaction of $1290/1300 zone if gold wants to test it (almost the height of the handle which is the first TP for this kind of pattern)
Bearish Gartley on this level
haha! that's a great pic! yer iv been watching this one too! the only thing that concerns me with this pattern is 2 things.

1: first been the symmetry of the pattern, its more of a sure thing if the neckline is horizontal.
2: On the hourly time frame you can see the potential for a head & shoulders top ( i hate to see it, but its there) im guessing alot of shorts will be in here & hopefully they get screwed!

note: if it is a head & shoulders top, it will take out daily rising support from our lows.. its critical that the BULL shows up to the party here RIGHT NOW!
cheers Joel.
joelflynn joelflynn
@joelflynn, as for the indexes, they should top on april 14th, gold should start to turn from that date but which way, i don't know... my guess is as good as yours but im looking for a late July high intermediate.
pixi joelflynn
@joelflynn, hi, thanks for your comment.
1: False. Angled neckline are as effective as flat one. Any patterns with neckline (H&S, Cup&Handle, Adam&Eve...) work great with angled neckline. See Below

2: This likely Scenario is based on Daily Timeframe (even if i could make it on weekly TF), so looking for a reversal in H1 TF is a non sens (H4/H8 is the minimum)
@pixi, i didn't say that angled h&s don't work, i am simply stating that a horizontal neckline is a better case scenario. im clearly a BULL but to say that my hourly call is nonsense is stupidity. anything is possible, keep an open mind, you can never allways be right @pixi
pixi joelflynn
@joelflynn, My bad about your CALL on H1 TF, i was thinking you are talking about Short (H&S is a bearish pattern, so you maybe meant inverted H&S)
That being said, i repeat but horizontal or angled neckline are both effectives.
And i agree, nobody has the truth ;)
Keep Cool ;)
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