The next strong upmove is in the making for XAU.
Here with this XAUEUR chart, you can see 2 bullish pattern formations: the green one is a nice symmetrically shaped CUP and the blue one is my expected accomplishment of the right SHOULDER of an INVERTED HEAD AND SHOULDERS. Both combined expressly underline my bullish price expectation for the next months.
HARMONIC PATTERN BAT BEAR (symmetrical going to 1.13 XA).
Waiting for a pullback to approx. 1.83 price target (= EMA9 on the weekly basis) for Long entry.
Reached BAT target is shown by the flag on the chart. Time expected by early November.
Inverted Head-And-Shoulders showing us a bottom for NGAS. It´s a very reliable pattern with a low failure rate and a good average rise. Now pausing on the neckline.
All you need to know for the next expected price target is on my chart. Have a good trade!
I see an onfolding DIAMOND (half staff figure as continuation pattern) on the XAUUSD trade. The breakout move is equal to the entering move of the DIAMOND pattern. After the breakout has been accomplished (green arrow), a retest of the breakout level should be expected (annulation of the previous breakout).
Have a safe trade!
Trading Mickette from Germany