Reflection pattern.

FX:XAUUSD   Gold / U.S. Dollar
1801 10 26
It seems that the trend lines . Desire and are reflected upward.
W. pattern.and Double bottom formed for gold             . And we should not wait for fall.
There may drop to 1158. For this week.
  But not to worry. Because. Gold             will be reformed to 1400            
Looks like a big h&s pattern which needs to be finished indeed before going up.
+2 Reply
Angel Yahia.Awes
I also see a SHS pattern. My question would be at what level do we need to realise that? Look for some retracement to 1170 & 1150
I also published the same level, as an area that gold may rebound. waiting for the gold to approach the dashed 1-4 line.
Gold me rebound after hitting these resistances;
+2 Reply
Hi Dear Professor, Thank you for this analysis. very very good...
Came to similar conclusion - watch how the dollar index is on corrective rally which will push gold lower to at least create another higher low which sits around 1150 - 1160 area until mId May - I am placing Longs there and look to hold till June July - projecting 1260 for profit taking:-)
This is ridiculous chart.
+1 Reply
your view on gold i must admit i share your sentiments and will be buying below 1200 looking for move back towards 1400 need to over a few obstacles before then though
+1 Reply
ZarNegar HamedAghajani
Hi Hamed jan
I think that the decline is over.
Now. Gold should rise to 1,400
If it does not rise. So gold will fall to 800
Please choose. 1400 or 800
+1 Reply
I would like to see 1400 first. My chart is fairly speculative.
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