REASONS
* Tariffs between USA & CHINA comes into effect on 23rd August......
* All Indices are close to record highs and watching for a big fall after the winter 2018 wobble.
* Chart Analysis shows break out of long term (2011-2017) downtrend, wxyxz pattern, Z to retrace around 100% of Y at around 1130 area , also a downtrend line retest, then break new high 1500 area by New Year.
* Gold never retested the highs from 2011/2012
* Gold Mining Shares (the healthy ones) all approaching or on key support levels after big sell off.
* On hourly/daily chart Gold looks like its printing an inverted left shoulder, one last swing down expected on 22/23rd August
Trade with Care & Caution, Good Luck
* Tariffs between USA & CHINA comes into effect on 23rd August......
* All Indices are close to record highs and watching for a big fall after the winter 2018 wobble.
* Chart Analysis shows break out of long term (2011-2017) downtrend, wxyxz pattern, Z to retrace around 100% of Y at around 1130 area , also a downtrend line retest, then break new high 1500 area by New Year.
* Gold never retested the highs from 2011/2012
* Gold Mining Shares (the healthy ones) all approaching or on key support levels after big sell off.
* On hourly/daily chart Gold looks like its printing an inverted left shoulder, one last swing down expected on 22/23rd August
Trade with Care & Caution, Good Luck
註釋
Left inverted shoulder completed, idea still valid, expecting big move down to 1130 middle of next week as money will be moving out of gold and into indices/oil which are set to fly in the opposite direction with ABCD patterns.
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