Gold Weekly Rounding Top

Observing Gold's weekly chart, It now appears its in a rounding Top/ Bearish Inverted Cup and Handle Pattern. In Addition to that It also appears we're possibly in the 4th wave up leading into the 5th wave, which is a retest of the C leg which I have at around $1889/1890. A rejection of this level also gives The 5th wave down the Right Shoulder to the bearish Head and shoulders pattern. I then see a sell off on the ABCD Pattern.. Where lastly The D leg of the ABCD pattern retesting the Flag Break Out.

I have a short Term Target of $1840. and will look to switch to the bearish side after the 5th wave is confirmed. In Fact this whole movement by gold looks like a bearish ABCD pattern. After we reach the Finally D leg, I will look to go long and see gold retest the $2,000.00 per oz

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see how it looks like just one big bearish ABCD Pattern

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monitoring the 2hr bull flag set up

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The AD showed me an Ascending Triangle w/ an $1840 price target

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price action today 8/11/22 created a potential inverted head and shoulders breakout that would lead us back to 1799.. Bears would need to invalidate 1785 on good volume to erase that possibility

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AD chart of Gold

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low stoch rsi on gold where there's the potential for the breakout of the right shoulder to the inverted head and shoulders pattern

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AD/Stoch RSI bottom where the right shoulder needs to be created on gold

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double bottom by the AD

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the lower time inverted head and shoulders set up . Notice how the Right shoulder, created its own inverted head and shoulders pattern

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5min chart AD in a triangle

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Gold prices will make you go crazy trading these ranges, monitoring the 30min bull flag

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watching

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www.tradingview.com/chart/rByb49Ih/

updated gold analysis

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