darth.stocks
Short

Gold: In desperate search for a perfect triangle

FX:XAUUSD   Gold / U.S. Dollar
86 3 4
It is some bit of fascinating to see Gold             without the effect of a Brexit decision... A perfect Pennant with an upside Target of 1375 USD. It is even more fascinating to see that the 105 USD upside breakout of the pennant already happened! It was the Brexit decision. So should we really believe on another upside breakout...? I guess not. It is interesting to see that this interpretation also fit's to COT data. Breakout is already "priced in" in the Commercials positioning, so rather expect a decline!
Comment: On Break of Support Line a descending triangle formation will be formed...
snapshot
That's really funny/interesting now since one can see quite a few patterns within this hypothetical chart...
Reply
darth.stocks darth.stocks
snapshot
Reply
darth.stocks darth.stocks
snapshot
Same for USDJPY but not for Silver....
Reply
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
中国
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out