If you consider the Math the numbers IMHO add up almost perfectly.
Consideration: Same time last year it played bearish into mid-August with FED not hiking. However, following the meeting, FED members made very hawkish comments anticipating 2 rate hikes before end of 2018. Such posture made Gold to stop at 1160 and commence a bull run to complete the 2nd part of the cup.
Today the candlestick structure is different even though we still have a long spike but in the opposite direction.
For additional infos about Gold please refer to the related ideas linked at the end of this post.
Thank you for your support and for sharing your ideas.
Disclaimer: Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
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However, the RSI on the Monthly chart is very close to go above 70 which may provide bullish momentum for a run above 1453