On weekly chart (from 2007-09 to 2010-05) we can see massive triangle in brown, and then parallel channel in blue. Channel target is in ~1,370 USD area. Bottom is @ ~1,140 USD area.
Gold 1 day chart
On dayli chart (from 2009-11 to 2010-05) we can see very simillar pattern - massive triangle in brown, and parallel channel in blue. Channel target is ~ 1,270 USD area. Bottom - 1,175 USD.
Long ago I noticed this patterns. It was strange for me when I saw same patterns are formed in different time frames... But pattern like this often happen in gold. It is almost like a fractal. Of cource the pattern appear because human emotions are "captured" into the gold market and market in general.
Gold 4h chart
4 hours chart is insignificant for the moment, except price formed a small top.
Posts
1 comment:
I be enduring read a only one of the articles on your website at this very moment, and I really like your line of blogging. I added it to my favorites entanglement page roster and will be checking promote soon. Please check out of order my orientation as approvingly and leave to me be acquainted with what you think. Thanks.
Post a Comment