GLD seems to have reached the end of minor wave 2 up. Minor wave 3 should last many months and should take prices to levels much lower than 136. As shown by the Commitment of Traders graph, speculators continue to be at record net-long positions in gold futures and at this junctures they are usually wrong as shown in history. FOLLOW SKYLINEPRO TO RECEIVE UPDATES.
The gold miners ETF just broke a big weekly resistance (since 2013) at 27.00 and its current price is now 28.72, what does it mean for Gold ? As you can see, the price of this ETF broke a huge resistance, after a bullish pattern "Cup and handle", this is a big sign of a bull market for Gold ! Gold could breakout soon. However, never forget that it might be a...
Ascending Triangle are repeatable trading chart patterns. Ascending Triangle chart patterns will have a directional bias depending on the previous incoming trend. Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern. What ever time frame you are trading this chart pattern, wait for a candle close outside of the...
According to Bulkowski's chart pattern- 81% probability of breakout (up) as the trend leading up to the formation (bullsih).