Pitchfork Analyze of Gold in Weekly See X Point and Reversals....and.....
Comments
motleifaul
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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.
MyChart
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Very good....
motleifaul
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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.
ron.jaenisch
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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
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thanks. please send links of your book and indicator...
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.