XAU Update

The XAU has one of the cleanest charts of the precious metals stock indexes in that the double bottom was very symmetrical, both bottoms were very close to the same low. It also had very nice reverse symmetry in this last rally off the second bottom. That brings us up to speed on the reason for this post. On the chart below I’ve drawn in a possible inverse H&S bottom with the head portion being the double bottom. I’ve also added a neckline symmetry rail that so far nailed the low for the possible right shoulder. I have shown you before how I use a neckline symmetry rail to look for an area that might form the bottom of the right shoulder. Sometimes they can hit dead on the money like this XAU chart and sometimes the low for the bottom of the right shoulder may be higher or lower. It just gives us a rough estimate, if one is looking for a H&S pattern, to look for some symmetry to the left shoulder. What I’ll be watching very close is how we interact with the neckline which will give us some important clues if I’m right about the potential game changer. This will show up in the other precious metals stock indexes as well.

EDITOR’S NOTE :
Rambus Chartology is Primarily a Goldbug TA Site where you can watch Rambus follow the markets on a daily basis and learn a great deal of Hands on Chartology from Rambus Tutorials and Question and Answeres .
Most Members are Staunch Goldbugs who have seen Rambus in action from the 2007 to 2008 period at www.goldtent.org and now Here at Rambus Chartology since early 2012 .
To review his Work and incredible calls from the 2007-2008 period click on the top right sidebar in the “Wizard of Rambus” ….”What If !!” Post
To Follow Rambus Unique Unbiased Chart Work and participate in a Chartology Form with questions and answeres and learn the Art and Science and Mindset of a Pro Trader please Join us by subscribing monthly for $29.99 at
www.rambus1.com
We have many subscribers from all over the world who are glad they did as they enjoy the many daily updates and commentaries provided at this exciting new site
As you will see Rambus (Dave) has prepared us for this difficult period by being one of the only ones to see and warn about this incredibly debilitating PM smackdown as early as Jan 2 2012 …click on the” HUI Diamond in the Rough” Post in the “Wizard of Rambus” top right
More Recently Rambus called a Bottom in HUI in this post…and has subscribers on board for a Powerful Run to the Upside
http://rambus1.com/?p=5651
What is he seeing Now ?
You will find Rambus to be a calm humble down home country tutor with an incredible repitoir of all the TA based protocols tempered with his own one of a kind style…simply put…He wants to keep his subscribers on the right side of these crazy volitile and downright dangerous markets
See you at the Rambus Chartology