Comments on chart. I'm ready to be thrown at with tomatoes!
H&S on XAU weekly as well. The current move could go up to the descending TL at 1353 which is also the height of the shoulders. Should it find strong Res there, the measured move down if 1276 is broken is until 1120, 1.618 fib extension of move down starting at 1433. Intermediate TGs are the green boxes.
In its way down unfolding a H&S announced hier 3 weeks ago Gold is likely to go in an expected 3 drive pattern before reaching its final TG.
Scratching my head to figure out...even the technicals are not so clear this time
I'm watching closely this Vix thing. Some bullish hints can be seen, RSI and MACD allthough not strong yet. Should it want to close the gap, I think it'll reach the green box, between MA20, daily Pivot and 38.2 % Fib retrace. That'll be enough for SPX to move decisively. Any thoughts?
Gold has behaved as I expected up to now from 1433 to 1304ish. On its way down, I think it'll look to its RS at the daily pivot, TL and also the top of the Ichi cloud (hidden for sake of clarity). The PRZ in the green box fits to the theory of H&S and its measured move. Comments are vey welcome.
Behaviour quite similar to GBPUSD since June 2013, with first move down to neckline then a rebound as 2nd attempt to retest 1414 and then move down to 1352 measured move H&S.