GOLD: The Bigger Picture
Gold currently sits inside a triangle with a 0° horizontal top (super bullish).
Two interesting things to point out here:
1. The formation was entered (point 'A') with an inverted 'partial decline' (imagine the chart flipped around by 180°). This means that the formation can end without a "partial" anything... it can simply go from point 4 to point 5 and continue without pressure to point 'B'.
2. It's rare to see such perfect proportions between peaks and valleys, especially within a triangle on the monthly chart. The better the proportions of 'empty spaces', the easier it is to foresee the ending of a formation.
Note: Zoom out to see a broader view of the situation.
Two interesting things to point out here:
1. The formation was entered (point 'A') with an inverted 'partial decline' (imagine the chart flipped around by 180°). This means that the formation can end without a "partial" anything... it can simply go from point 4 to point 5 and continue without pressure to point 'B'.
2. It's rare to see such perfect proportions between peaks and valleys, especially within a triangle on the monthly chart. The better the proportions of 'empty spaces', the easier it is to foresee the ending of a formation.
Note: Zoom out to see a broader view of the situation.
Penafian
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