Gold Price Forecast: Breakout Pushes RSI Towards Overbought Territory

I’ve been tracking the Gold Price Forecast for a couple of months now and have decided to write this article about it, because the best news I can get for you is that the breaking out of the recent price lows is extremely bullish, even for this chart.

It doesn’t mean that you should buy now, because there are still risks involved with these trades, but it does give us an indicator that the price might soon rise to new highs again.

To summarize the most important aspect of the Gold Price Forecast, I would say that it is worth studying. One thing I have learned from studying it is that Gold tends to trend up on long term trading charts, which means that most of the time, when the trend reverses, the prices move down and vice versa.

But the key point of the Forecast I am going to focus on is that this movement is bullish. It confirms my current thoughts that, as it turns out, we should be cautious about purchasing gold right now, because of the risk involved in long term buying, as discussed earlier.

My risk evaluation approach is different than the one you will hear in the financial press, and one of the reasons is that I think the chart makers in the Bullion Bulletin are incorrect when they say that the Breakout Paces is all over the place. They make a great number of Breakout Paces with smaller and larger ranges, and in the Forecast for this past week, there were many of them, all over the place.

I suspect that the Breakouts are not being charted with the same technique as the Average Pips, which indicate support and resistance levels at prices. It seems that most traders who use Breakouts as a type of indicator seem to be charting the Rally Pips, and I am not sure why.

In my opinion, the Rally Pips and Price Action Breakouts are two different types of data that I have decided not to make use of because I feel that the Pips on the longer time frames are skewed to the upside, while the Breakouts are skewed to the downside. It’s possible that they both contribute to the Breakout Paces, but in my opinion, the longer time frames are less volatile, and the Breakouts do more work for you.

Another thing that I noticed is that the patterns of Pattern Choice did not match the charts that I chart. This is an important point because most traders tend to choose patterns based on the chart makers, who don’t follow the market, so their charts look very different.

I discovered, on one of my Forecast charts, that the Breakout Paces of the Rally Pips was on a longer time frame than the Market Day charts, which in turn indicated a break out of the range on the market day chart. The breakout was taking place on the Rally Pips.

It was on the Rally Pips that I made my point that most people use the breakouts as a type of indicator. I don’t think it makes sense to make your money based on the market day charts, because they are based on averages.

If you are charting using the Spot Spread, then the market day charts are based on averages. Even if the Market Day charts are better, there is no reason to rely on them when charting the Spot Spread, since the spot is generally much smaller.

Since the Market Day charts are based on averages, they always have the same factors in common. In order to break out on the Spot, you need to find the Rally Point, and that is where the spot is smaller than the average.

This means that there are more out of the range entries, and therefore it is a smaller number of Market Day charts, then the spot. It makes sense to chart the Spot using breakouts, rather than charting the market day charts.