Ok a Quick Chartology Tutorial on what is likely happening in Gold

Rambus teaches that when a pattern breaks out but doesn’t quickly go in the direction of the breakout

It often means there is a bigger pattern forming …he calls it “Morphing”

First look at the red numbers on the chart..a perfect 1 2 3 4 pennant that broke out

PARTY ! right ?…not so fast

morph

Looks like we have more work to do …more digesting of that 200 dollar move in a month

It wouldn’t be surprising to see a Retest of the Pennant (1 2 3 4 in red) at it’s exact Apex

This could be point 4 in the new Bigger Flag…it is about 1240 ( Blue numbers are for the Bigger Flag)

Then we may see a rise to a point 5 ..then down to a higher low at point 6 ?

Then a breakout. This could very likely be a halfway flag to the price objective is circa 1400-1450

Of course the pattern could break down at 4 or 6 BUT Most patterns are continuations so odds favour UP

Patience is not for Sissies ! That’s another thing Rambus Teaches .

Class Dismissed