KVE

XAU/USD (Gold): Correction forming a triangle?

FX:XAUUSD   Gold / U.S. Dollar
253 0 12
I was hoping for an ABC             zigzag to enter another longterm long at a lower level (longterm I'm still very bullish ) but that didn't happen so far.

Now this correction is beginning to look like a triangle...
For now stochastics are oversold again so the next wave within this possible triangle should be up.

In any case the BB is squeezing and RSI is flat so we could be seeing a strong new impulse if we break out of the triangle... It could take another 2-3 weeks though before this happens, we'll see...




Comment: This one's invalidated:
snapshot
Comment: Update: Triangle scenario still possible...
snapshot
Comment: Triangle complete..., waiting for BOJ and FOMC to jumpstart the next moves...
updated idea here:
XAU/USD (Gold): Triangle complete, waiting for FOMC...
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