Signals are suggesting the breakout is more likely.
9 ellipses mark nine possible signals:
- Daily Heikin Ashi candle
- Daily haDelta/SMA3
- Daily Oscillator
- Daily Senkou Span cross is looming (Future Kumo twist)
- Daily Chikou Span is above Price and points up. By the way all average lines point up slightly too
- 4H DMI
- 4H Heikin Ashi signals: candle, haDelta and OScillator (3 ellipses)
All seem to be perfect for a move. Of course markets are not perfect, instead they are often tricky, and everything is possible, even a break, or a false break followed by a stronger break. So we still have to wait for the signal of the ULTIMATE INDICATOR, which is THE PRICE itself! When it breaks out of the triangle, that will be the confirmation.
In case we see more risk-off coming to bond or equity markets, then Gold will blow up, and as usual, CHF will act as safe haven too.
By the way, have you ever thought about why Gold is trading so shy? I mean clearly, what is the biggest bubble of all? Is it bonds, equities, or something else? Well, of course bonds are in bubble, equities expensive (maybe some part bubble-like), but the biggest bubble of all is CASH! The fiat money, which has been printed in insane amounts for the last 6 years now.
So I think Gold is a must to hold. Look how idiots are buying unlimited amounts of bonds with no or negative yields! Is gold, as a limited asset so bad with no yield? Of course the reason it has not yet started to move is that European Real Money investors do not have a mandate to play in Gold. The only have a mandate to "invest", say frontrun bonds and equities and get out on the ECB. :-)