nyanmaung

One last opportunity for gold might be coming up soon

FX:XAUUSD   Gold / US-Dollar
The chart is clearly looking like gold             will eventually head to the 900s for the one last time. I'm not short or long at least in trading. I'm still holding my physical as hedge.
I like your wedge, but that is more likely bullish IMO. Google Ascending wedge bud. "The ascending triangle is a bullish formation that usually forms during an uptrend as a continuation pattern. There are instances when ascending triangles form as reversal patterns at the end of a downtrend, but they are typically continuation patterns."
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@faronf, I believe history will show, this is one of those "instances"; maybe $1230-1240 one last time?
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@faronf, looks like a bullish upside down bullish triangle to me which is bearish but we just have to wait and see. Thanks for your take its good too
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faronf PRO nyanmaung
@nyanmaung, I guess the reason I see it more bullishly too is that I am forecasting 2+ more years of USD weakening... USD in the throws of a 15 year super cycle and the final leg is bearish. Good luck.
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