catherine.bath

Double Gartley pattern in Gold??

COMEX:GCZ2014   Gold Futures (Dec 2014)
If Two Gartley patterns can intersect, like they do on this chart, Then I think the second Gartley pattern is ready to give us a nice extension. The first Gartley pattern, starting at the end of June 2013, extended beautifully from late December 2013 into mid March 2014. This same extension leg (indicated by first red dotted arrow) is also the XA leg of the current pattern which if correct, is due to extend any time now. It could go a bit lower, but not below the X point at 1281.4 from Dec 31, 2013. We are very close. The second red dotted line shows the probable extension. It could go even higher.

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