pixi
Long

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?
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Best entry at 43! I am waiting for a bit more confirmation...
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Coming true?
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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
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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.
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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.
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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)
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@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
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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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