Loading ...Kudos to Mark for his bullish gold pattern from last December on descending broadening wedge (+ my new pitchfork chart)
Hi Mark. How’s your Gold Pattern Breakout chart doing? Very well, I should imagine.
These were interesting articles – and very timely it turned out! Cheers.
5 Jan 2016
Gold Pattern Breakout
http://goldtadise.com/?p=359140
27 Dec 2015
Gold – Still See Structure as Bullish
http://goldtadise.com/?p=358619
17 Dec 2015
A Post from the Lone Gold Bull
http://goldtadise.com/?p=358054
I like the information on descending broadening wedges in the bottom posting.
From your original charts with potential target $1200, the price is already 3/4 the way there (from the $1045 low to $1160 already). Wow.
The broadening wedge chart comparison chart with Home Depot looks like a Wolfe wave but one that gets fatter, not thinner. A wolf on a diet of hamburgers and doughnuts, perhaps.
Anyway, a quick addendum to the above. I noticed some symmetry that might fit an uptrending Andrews’ pitchfork. “Don’t get too bullish now!” I say to myself. I need to take Spock’s advice and just look, not think. James Dines called ‘technical analysis’ by the term ‘visual analysis’ I recall:
So after 1200 is reached, the target is 1000? That was a great call. Where’s Mark?
If the pitchfork is followed, there could be a move to around $1210-1220 and then a move perhaps down to around $1080 to re-visit the base of the fork. It might be fascinating to watch. Actually points 3,4,5 and the $1220 target would also be forming the start of a megaphone.
Thanks Dave…
Wow, that fork was impressing.
Mark’s analysis is sorely missed here.