thanks ammo this looks like its confirming what you say into next week fomc minutes took the price down spot gold 4 hour shows the latest downmove from 18 november trendline cluster/trend res in 1256 area horizontal/breakout point in 1250 area minor trend/res at 1244 area horizontal supp/aqua at 1234 area there are lower horizontal supports from prev uptrend
the one and 2 year charts are sort of out of info for the lower end, so moved out to a 4 year,the widest spots(Nip) are where it traded the most, the narrowest or deepest (Cleave) are where it became too cheap or expensive and returned to nip, the wide flat spots(Ledge) are where a repeated supp or resistance happened,once it tests a nip and it holds ,it returns to prev cleave or ledge,if it holds, back to nip, if not,higher or lower to next c,n,or ledge, all the marks are targets or test points,and theoretically you can just skip the real estate in between just riding from one of those 3 points to the next over time it leaves bell curves with the cleaves being the top and bottom,the top one is filled in nicely, the mid is filling in now and there is a smaller one below
outlook for next week from the 4 hour data the downtrend that started at beginning of November $4 box size by 2 reversal hilo plot purple is the main downtrend red is the internal trend...that is being tested at 1252 area..that held it back on friday..we got the minor rally to resistance a big area..trend res and horizontal res there is horizontal res above at 1256 and 1264 areas 1264 being main trend res bulls maybe getting confident now horizontal supp at 1224 area ammo we got the nip and tuck at 1252 area a