Loading ...Leveraged Formations – XAUUSD
Hey guys first time poster and thoroughly enjoy all your hard work and analysis.
Totally agree with LSTrading’s post yesterday on gold chart basing pattern and projections and have added some embellishments too.
If combination cup and handles within saucer bottom formations hold this could be leverage on leverage needed for gold to reach $1800 medium term target.
Now at the skinny end with breakout appearing to be a Q2 or Q3 event – time will tell of course.
Welcome and thanks!
Welcome to the tent Jonno
Beautiful Chart
Great chart thanks!
Welcome Jonno, and nice chart 🙂
Wecome, and thanks. I do think the move up will be more violent than your charts suggests, due to how many participants are waiting on this particular breakout, I think the initial push will be vertical and then the backtest quite painful… my thoughts anyway. Cheers!
Thks all guys and yes agree Dave there is a lot of pent up demand. Who knows how price will accelerate once neckline is convincingly broken out. Average weekly volume has picked up quite noticeably since start of 2018 and highest its ever been for years.
Leading into start of saucer bottom gold dropped almost $400 (+30%) over 6 months from late 2012. If symmetry / history can be our guide gold could possibly increase at a similar rate or even harder as you have suggested on its way back up north.
Whatever happens it will sure be interesting for whole PM sector.