xauusd (gold) parabolic pattern

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xauusd (gold) parabolic pattern

what is the using of parabolic patttern?
when will trendline breakout fib 60% tracement target,
I saw this pattern recently read in my book ,priceaction oldschool trading like a price action strategy(book);

see will work or not !

above breakout 1924 ; target is 1928 t0 1937
pink trendline breakdown below target is 1890 to 1884

today is month end goodluck

caution: use for reference , just think above or below
good
Note
this was different
Trend AnalysisXAUUSDxauusdlongxauusdshort

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