Potential H&S Reversal in Gold after Ascending Wedge Breakdown
Updated
notes on chart. the chart looks fairly strong and not very confident that this will happen, but if a drop does happen, this is what I will be looking for. I hope that it does pullback because I think Gold wants to go on a nice run the next two days, the Day wave is just about to turn up and the hourlies are looking strong.
Note
It is looking like it might break down and fall... If 1199/1200 ends up not holding, the bottom of the channel is right below there at 1188. If that breaks, watch out, but I believe that is unlikely.Note
The buy point has been revised to $1201.Note
going according to plan. currently in a bear flag, but it will break down and reach 1201. Note
target has been lowered to 1199, which is the low from a few days ago. I still think we're going to get there. The dollar is about to get a little pop before it begins its decline tonight, that might be enough to force this down.
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