E-Build Pattern In Gold’s XAU

Probing continues for a Trading Range bottom.

Again, the simple A-B-C-D-E = F method is used, this time in a sideways wedge where potential is building.  This example now predicts eventual up moves, toward an extended F point.  (The pattern also applies to the downside.)  Here, E must not fall to the C point:

“Creeks” are created when troughs, or valleys, overlap into peak areas.  From above it’s a form of support, and dipping too far means going “underwater.”  From below, upside resistance has been met, and we must overcome.

Happy Trades to You!

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