This is just a copy-paste of a post of mine on another thread re-the gold chart...
Added my NVA chart... My level on Gold could correlate nicely with a breakout here...
IMHO opinion some more confirmation is required...
I have been watching that "Double Bottom" on the daily chart. Definitely a start, but according to
strict Classical Charting definitions (as defined by R.W Shabacker), it does not fulfill the criteria of
an unquestionable Double Bottom, based on the duration between the bottoms, the extent of the rise
between them, and the volume characteristics. (He seems to have been particularly bothered by the
frequent misdiagnosis of this pattern, even in his times, and dedicated a section to it titled " A Much
Misunderstood Formation"). I would personally be looking for some closes above 1797-1800.
Either way, I certainly hope you are right!
XAU/AUD looks like it will need a bit more of push...
NVA chart:
GLTA
2021 NVA chart, page-453
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