XAUUSD - GOLD - Weeky Bar Chart - Time at Mode Method
XAUUSD appears to be working much more smoothly on the weekly bar chart and not as much on the daily chart.
See if you can follow the logic and notice that the downtrend reached it's measured move early in the decline.
The recent rebound in gold has been only up the resistance from "range expansion (Rg Exp)" but it is possible that XAUUSD will retest the mode up at 1290-1305. I also like that gold is above the 3 lowest weekly ranges, and especially that it is above the lowest weekly range (from 1223--1190), not much above though.
Tim 1:55AM EST 10/27/2014
See if you can follow the logic and notice that the downtrend reached it's measured move early in the decline.
The recent rebound in gold has been only up the resistance from "range expansion (Rg Exp)" but it is possible that XAUUSD will retest the mode up at 1290-1305. I also like that gold is above the 3 lowest weekly ranges, and especially that it is above the lowest weekly range (from 1223--1190), not much above though.
Tim 1:55AM EST 10/27/2014
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