Gold: Textbook Breakdown From a Triangle

From goldpriceforecast.com

Gold was trading sideways through the summer period, where we spotted a larger bearish running triangle formation within wave B, from where we were looking for a drop into wave C. On September 18, we were tracking the final stages of the pattern. We specifically focused on subwave (E) with resistance around the upper triangle line, near the 61,8% Fibo. retracement at the 1950 area. Well, a few days later, specifically on September 27th, gold came nicely down from the projected resistance as expected. Notice that the price also broke through the lower triangle line, thus confirming a bearish continuation within higher ... (full story)