2 replies to this topic

[kamakazeman]

I'm looking at a monthly XAU chart, beginning at the low in late 2000 which has now been in a huge triangle for nearly 18 months. To me, with a 26 month moving average, to approximate the 4.5 year cycle half span, properly offset by -13, the trend is still hard up. Therefore an explosion to the upside appears to be the expected resoulution, with a move from about the 140 apex of at least 40 points, more if you include that one spike to 160. While the apex looks to be one down bar away with the upside launch on the following upmove off the support line, the weekly chart appears to have just moved thru the resistance line, or is about to do so, (depending on your ruler and pencil)........ so, is it is, or, is it ain't? Is it worth a shot here? How much to give up to be sure it's on the way up? How much to give up to see if it's going to bounce off suppport one more time?

[Jnavin]

Excellent questions.

[vitaminm]

XAU Wkly resistance @150 ,if taken out next monthly resistance@159