Myst_FX
Long

Restablishing a Bullish argumentation

FX:XAUUSD   Gold Spot / U.S. Dollar
57 0 1
Descending Wedge Pattern starting last 06/28/2014 "IS LONG OVERDUE" for a break to the upside.
This is the best alignment yet for a bullish breakout.

TA:
1. Bullish Divergence in RSI (Weekly)
2. Completion of Bearish Cypher Pattern @1,307s (0.786 Fib. of the last down trend) hints for another run Higher.
3. 0.618 Fib. Retracement aligns with strong bullish support established 11/07/2014 (Red dashed line)
4. A Possible Bearish Butterfly Pattern Completion (as projected in Blue) along with a retest of Structure (Resistance turned Support, Yellow dashed line)
targeting 0.50 Fib. retracement and again the Red Support Line.
5. Elliot Wave completion
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