FX:XAUUSD   Gold Spot / U.S. Dollar
595 5 5
Pitchfork Analyze of Gold             in Weekly
See X Point and Reversals....and.....
If we draw the pitchfork from the last top, i.e. 1920,80 on 2011-09-05 then we get the following picture:

So Gold has room until 1391.
Your chart indicates that we are on top now and expect a downward correction from here or would exceed the pitchfork.
Very good....
Than you for this study which shows an unusual picture but very impressive. This study may indicate that we could reach the blue pitchfork line before continuing downwards. I drew a pitchfork from the first bottom and receive a suggestion that we may have seen the intermediar top already. This is supported by the simple trendline and the Ichimoku cloud.
Pitchforks are great, I wrote the books about them. Google innovative geometry. Oh yes and be sure to check out my new Andrews pitchfork indicator.
DrAMohammadi ron.jaenisch
thanks. please send links of your book and indicator...
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