Bearish butterfly scenarios peg 1560 and 1665 as potential reversal zones. In other words, completed patterns suggest lower from one of these levels; but not before a double-digit build-out from current levels. $GLD
Potential bigger bullish movement in area of angle b or c use the horisontal entry angle for pontential swing on a bigger move in Gold,,, I will record a video of this bigger move. and post a link below this chart.
Looking at the parabolic rise in 1980 and the huge cci spike, in comparison the 2011 peak is weak and not really parabolic, which is what Martin Armstrong has argued that Gold still has much farther to go on the upside.... $5000 area but first some more damage may occur, perhaps into the $1000 area or even touching the 1980 high. My own work called for...
$GC_F $GLD $GDX
Typical head and shoulders pattern breaking the neckline
This is a 3months H&S. Target 1180. Detailed commentary to follow.
Gold having a shs that - if activated - having a target of 1140,40. Strange to see that gold is hardly reacting all though market is very bullish today. Have to wait and let it show us the direction. As always... time will show. Safe trading gents! BM Music at work! www.youtube.com
as long 1280 holds as support and 1340 as resistance with neutral RSI and STOCH indicators there 'll be no big moves in #GOLD
Watch out for Mass Media euphoria! We are still under momentum Moving Averages at the Big Picture. Cheers!
Daily chart is showing that bears are exhausting as well. Price took a dip down in mid August after a bearish (50, 200) ABCD pattern completed. The retracement should stop at either 50, 61.8 or 78.6 fibonacci levels, forming a bigger ABCD pattern, which should take price right out of the triangle. Two leading indicators are giving a buy signal, while MACD is...
3 cycles in (haven't drawn the first three in but see the three arcs/sections) - so 3 out? 33% correction. Hmm. (Or 4, to the seventh, largest wave thing) I've drawn the big circle that big: add in gold futures, silver & silver futures. All over it's all quite nice corresponding measures. The Gold Shoulder: If it hasn't done so already ... There is obviously some...