![\"gold](\"http:\/\/goldtadise.com\/wp-content\/uploads\/2016\/02\/gold-pitchfork-2016b-123456.png\")
<\/a><\/p>\nWith gold now at$ 1192.60 as of 20:53 Monday (evening, UK Greenwich Mean Time), the price is a lot nearer to that resistance line of $1210.<\/p>\n
I thought late Sunday night that there was a good hit coming on gold, down $10 in the first minutes but that has been smashed to the upside today, to my surprise.<\/p>\n
I noticed a few parallel and almost parallel slopes in an attempt to justify this pitchfork. At the weekend I drew a few more candidates but missed the shortest term one, which would have the median line starting at point 3 in the chart above. See below … the median line has been sliced through already:<\/p>\n
Now there is one feature on the above pitchfork that Paul Coghlan would say (and I haven’t looked at his website) is bullish. In the orange ellipse, there is a\u00a0the original low, a flush below that line and then a successful test of the line as support. He likens that sort of thing to a reverse head and shoulders and furthermore, the close after the flush is on or above the line! I WISH I had noticed that before! The next re-test is clearly above the line and then up it goes!<\/p>\n Here are all of the\u00a0pitchforks. Take your pick! No, your pitchfork! I am looking for other slopes on the price action that match the slopes of the forks. There were quite a few to match the thin blue one (top chart) but some that match the others. My faves are the big and small blue ones:<\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" Here is the gold pitchfork I posted in a previous entry last week: With gold now at$ 1192.60 as of 20:53 Monday (evening, UK Greenwich Mean Time), the price is a lot nearer to that resistance line of $1210. I … Continue reading <\/a><\/p>\n<\/a><\/p>\n