Loading ...Did the Dollar Just Break Out ?
The Damn Dollar has defied any Normal Chartology Analysis
Can’t see a good pattern no how !
HOWEVER IF YOU STARE AT CHARTS A LOT LIKE MANY OF US CHART GEEKS…..SOMETHING MAY EMERGE FROM THE MURK.
A PRIZE TO THE FIRST TO NAME THIS PATTERN !
Now …what does this mean for Gold ? Did we get suckered again Today ? Or is Gold finally ready to stand on its own and screw the USD negative co relation. Could we see BOTH up on Flight to safety ?
The dollar bested the high of last November, so it has a yearly high so far. However, it has not broken out or the rising channel contained in the highs and lows starting last August. IMO it hasn’t broken out yet.
I think we are all aware of the SHS patterns forming in gold and the XAU mining index, among others.. If gold falters toward the neckline you can bet many fingers will be hovering over the sell trigger. If the stock market continues on down gold may yet put in a new high.
Your pattern might be a political football (or maybe a financial football?) – teed up for the Charlie Brown punt.
So call the pattern Lucy’s Football.
Almond Continuation Pattern
I like both. 🙂
Sure does look like a football…laces and all
Torpedo Alley.
Venus Fly Trap:
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