Observing Gold's weekly chart, It now appears its in a rounding Top/ Bearish Inverted Cup and Handle Pattern. In Addition to that It also appears we're possibly in the 4th wave up leading into the 5th wave, which is a retest of the C leg which I have at around $1889/1890. A rejection of this level also gives The 5th wave down the Right Shoulder to the bearish Head and shoulders pattern. I then see a sell off on the ABCD Pattern.. Where lastly The D leg of the ABCD pattern retesting the Flag Break Out.
I have a short Term Target of $1840. and will look to switch to the bearish side after the 5th wave is confirmed. In Fact this whole movement by gold looks like a bearish ABCD pattern. After we reach the Finally D leg, I will look to go long and see gold retest the $2,000.00 per oz
I have a short Term Target of $1840. and will look to switch to the bearish side after the 5th wave is confirmed. In Fact this whole movement by gold looks like a bearish ABCD pattern. After we reach the Finally D leg, I will look to go long and see gold retest the $2,000.00 per oz
Note
see how it looks like just one big bearish ABCD Pattern Note
monitoring the 2hr bull flag set up 
Note
Note
The AD showed me an Ascending Triangle w/ an $1840 price target 
Note
price action today 8/11/22 created a potential inverted head and shoulders breakout that would lead us back to 1799.. Bears would need to invalidate 1785 on good volume to erase that possibility Note
AD chart of Gold Note
low stoch rsi on gold where there's the potential for the breakout of the right shoulder to the inverted head and shoulders pattern Note
AD/Stoch RSI bottom where the right shoulder needs to be created on gold Note
double bottom by the AD Note
the lower time inverted head and shoulders set up . Notice how the Right shoulder, created its own inverted head and shoulders pattern Note
5min chart AD in a triangle Note
Note
Gold prices will make you go crazy trading these ranges, monitoring the 30min bull flag Note
watching Note
tradingview.com/chart/rByb49Ih/updated gold analysis
Note
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.