Gold price on weekly chart (As Symmetrical triangle pattern)

Gold price on weekly chart

(As Symmetrical triangle pattern)

This weekly chart of Gold price is showing a good example of Symmetrical triangle pattern.

Knowing it, you may convert your knowledge into your prosperous Wallet.

Does it mean that you know what next price of Gold is ?

Indeed ! you know next price of gold

This week( 19/07/2014) is closed 1316.90 reaching at the trend of the triangle.

So that if you guess that it is lower than this(1316.90), you are no longer a novice of this game.

Let me explain more detail of classical methodology of Symmetrical triangle pattern. 

As you can see above Symmetrical triangle, it is sort of geometrical movement. It is hardly happened without artificial human behavior.

Someone are selling and buying at certain point of triangle.

At the finally apex of it’s destination, or of being converged into, it will be an explosion. For loser will obey and fellow the power.

Hence

The professional traders is never opening his wallet but watching and preparing so to speck “riding fence and come down on the right side of the fence” 

if you want to know real time when you have to come down from fence, you need to ask 30 minute chart