Everybody seems to want to dismiss this chart …even I do 🙂

However Lets face it its a Good Chart….with good patterns …and cannot be dismissed

The BIG TOP cannot be denied…it has lead to a strong Impulse move down in the Euro ..which subsequently has lead to this present Consolidation / or / Reversal Pattern.

Rambus teaches that MOST patterns are Consolidations ( ie Continuations). He also has shown many many charts like this where the consolidation is a half way marker to the final PO

WELL…the PO of that BIG TOP is …..!!!!!

Goldophiles are betting and perhaps praying that this smaller pattern breaks UP…which it could. BUT the odds favor …we hit the top at point 6? and down we go again.

I would say that for Gold the Most important point on Planet Chartology is Point 6? on this chart

6? implies it is a potential reversal point.

So Anyhow Ignore this Chart if you must but for me its my Screensaver

Fully

PS…when was the last time the Euro made a higher high or a higher low ?