The current conclusions are similar to McAvity's : a break out of the rectangle, above $1800 sets up a major move.
Peter Brandt link Here
Scribd Link Here
1. Gold is the purest of all markets to trade. This is probably because there are no real fundamentals in Gold. Nearly every ounce of Gold ever mined still exists. Gold is worth what the composite of all market participants think it is worth at any given time.
2. Gold is the truest charting market that exists. When the Gold chart speaks, a trader needs to listen and listen carefully. Chart patterns are extremely reliable in Gold. Of course Gold provides its fair share of false chart signals. But, when a chart fails in Gold there is usually a lesson to be learned. The lesson most often deals with patience, or lack of the same. Failed chart patterns in Gold combine into much longer-duration chart patterns that will eventually work.
3. Gold does not make large moves without first ringing a bell. Big moves in Gold are announced in advance – if only a trader is alert to the signs
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