PMGOLD
Gold (AUD) daily- Clear breakout from Ascendin' Broaden' WedgeGold (AUD) daily- Clear downward breakout from Ascending' Broadening Wedge (ABW). Price target is horizontal red line. Temporary relief at purple UpTrend line.
Regarding the 52% of ABW that break out downwards. 81% of those act as Reversals of the prevailing trend- Thomas Bulkowski.
thepatternsite.com
Gold (AUD) daily- Downward breakout from Ascend' Broaden' Wedge.Gold (AUD) daily- Downward breakout from Ascendening Broadening Wedge (ABW).
81% of AWB breakouts occurs in the direction leading up to the ABW. However, this is that 19% of cases.
Note: We are at Oversold RSI's under 30. History shows, when the RSI hits these levels, usually prices bounce back up.
Gold (AUD) daily chart-Symmetrical triangl's,Ascend/Fallin'WedgeGold (AUD) daily. Symmetrical, ascending, fallin' wedges. However, bullish uptrend intact.
With unprecedented Unlimited Fed QE , expect a big rally in Gold and Silver over the next 3 years (as occurred after the great Fed QE from 2008-11).
Gold (AUD) Daily- Symmetrical Triangle inside a Ascendening BroaGold (AUD) Daily- Symmetrical Triangle inside a Ascendening Broadening Wedge.
thepatternsite.com
thepatternsite.com
Gold- Symmetrical triangle, within a larger Broadening Top.Gold- Symmetrical triangle, within a larger Broadening Top.
Symmetrical Triangle- Has a 60% of Upward breakout, 40% chance of downward breakout.
thepatternsite.com
Broadening Top- Has a 61% of Upward Breakout, 39% chance of downward breakout (Thomas Bullkowski)
thepatternsite.com
PMGOLD Daily- Gold ETF also forming a Symmetrical triangle. PMGOLD Daily- Gold ETF also forming a Symmetrical triangle.
Sometimes, the Gold ETFs form in advance a hint of technical insight ahead of the main underlying commodity- not this time!
Gold (AUD) daily- Rising WedgeGold (AUD) daily- Rising wedge, inside a Broadening wedge.
60% of downward rising wedge breakout. 40% upward breakout.
Larger Broadening Wedge pattern- 80% of upward eventual breakout.
Gold (AUD) Daily chart- Ascendening Broadening Wedge. Gold (AUD) Daily chart- Ascendening Broadening Wedge.
Gold (AUD) daily chart- Symmetrical Triangle.Symmetrical triangles as part of lead uptrend, tend to bias bullish breakouts.
Gold (AUD) daily chart- Following orderly uptrend. Gold (AUD) daily chart- Following orderly uptrend.
Yellow line- 20 day simple MA.
Gold in AUD (daily chart)- Ascending broadening wedge. Gold in AUD (daily chart)- Ascending broadening wedge (yellow lines).
According to Bulkowski's chart pattern research- 81% probability of a bullish eventual breakout.
thepatternsite.com
GOLD in USD- Bullish Ascending Broadening wedge. According to Bulkowski's chart pattern- 81% probability of breakout (up) as the trend leading up to the formation (bullsih).
Gold daily in AUD- Rising wedge.According to Bulkowski- 60% probability of downward breakout, 40% of upward breakout.
As for downward breakout for a falling wedge, one of the worst performers, with 72% probability prices will retest breakout point (throwback).
As for upward breakouts for falling wedges, far more likely to be fruitful with far better performance, according to Bulkowski.
