Potential H&S Reversal in Gold after Ascending Wedge Breakdown

1 cze 2016

notes on chart. the chart looks fairly strong and not very confident that this will happen, but if a drop does happen, this is what I will be looking for. I hope that it does pullback because I think Gold wants to go on a nice run the next two days, the Day wave is just about to turn up and the hourlies are looking strong.

1 cze 2016

Uwaga

It is looking like it might break down and fall... If 1199/1200 ends up not holding, the bottom of the channel is right below there at 1188. If that breaks, watch out, but I believe that is unlikely.

1 cze 2016

Uwaga

The buy point has been revised to $1201.

1 cze 2016

Uwaga

going according to plan. currently in a bear flag, but it will break down and reach 1201.

2 cze 2016

Uwaga

target has been lowered to 1199, which is the low from a few days ago. I still think we're going to get there. The dollar is about to get a little pop before it begins its decline tonight, that might be enough to force this down.