kopparam
Long

XAUUSD, Monthly harmonic analysis

FX:XAUUSD   Gold/U.S. Dollar
63 1 2
recent lows (1071.20)are 50% retracement ( bull rally from 2000- 2011) very significant for the many harmonic formations in development for long term bulls.

Bullish Bat Pattern - AB is 50% of XA
Bullish Cypher Pattern- AB is 61.8% of XA
AB=CD .................... BC             is 61.8% of AB

prices below 1.060 will invalidated all the patterns

Related Ideas

kopparam
a year ago
note - their is RSI divergence in the monthly charts which further supports the price action to the long side
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