Sunday, December 13, 2015

Gold Trend

On Mon and Tue our attention will stand on the bottom of right shoulder. Take a look that as soon as AB-CD down has been completed market has formed perfect bullish engulfing. And right now situation stands so that we have to either take long position here or just do nothing. Because here we have pattern and could place relatively tight stop. If market will start move up and reach neckline, it will be too late. This is for those who intends trade it up.
For bears - you need to wait either for H&S failure or 1105 area where H&S will be completed.
The target of this pattern is 1105 area. Second half of H&S pattern also takes shape of perfect "222" Buy pattern. So, as you can see we have potentially very nice setup. Neckline coincides with MPP.
gold_4h_14_12_15.
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YOU SHOULD NOT TAKE ANY MATERIAL posted on this BLOG AS RECOMMENDATIONS 
TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED. 
 Do your own due diligence. 
No one knows tomorrow's price or circumstance. 
 I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader. 
I do not accept responsibility for being incorrect in my speculations on market trend.