Go Back   Trade2Win Forums > Financial Markets > Commodities > Metals
Gold head and shoulders pattern completing Gold head and shoulders pattern completing
Site Guidelines | New Posts | Register Mark Forums Read

Gold head and shoulders pattern completing

This is a discussion on Gold head and shoulders pattern completing within the Metals forums, part of the Commodities category; Hi, I have noticed what looks like a head and shoulders pattern completing on the daily chart. I'm not sure ...

Reply
1 1 Attachment(s)
Sponsored By ChoiceTrade Share thread with:  Submit to Digg Submit to Facebook
 
LinkBack Thread Tools
Old Mar 16, 2009, 8:59pm   #1
Rookie
 
Join Date: Jan 2009
Posts: 21
Gold head and shoulders pattern completing
Hi,
I have noticed what looks like a head and shoulders pattern completing on the daily chart. I'm not sure where to get volume data from for gold charts, so I can't say whether the volume is declining and confirming the pattern, but as a newbie, I would like some views on the potential reversal pattern.
Attached Thumbnails
gold-head-shoulders.jpg  
captaincol is offline   Reply With Quote
Old Mar 16, 2009, 11:11pm   #2
Rookie
 
Join Date: Mar 2009
Location: Virginia
Posts: 5
it appears fairly obvious and its expiration week.

the first support is at 890, had trouble going through that, completely failed at the recent attempt at 940, so 890 would be a safe bet EOW.
Sonicthehedgefund is offline   Reply With Quote
Old Mar 18, 2009, 4:13pm   #3
Senior Member
 
Join Date: Nov 2008
Posts: 387
WallStreetHero's Trading Profile
well with that massive spike, that head and shouldars is definatly abolished.
__________________
you can print more dollars, but you can't print more gold
WallStreetHero is offline   Reply With Quote
Old Mar 18, 2009, 4:26pm   #4
Rookie
 
Join Date: Mar 2009
Location: Virginia
Posts: 5
Quote:
Originally Posted by suhaib View Post
well with that massive spike, that head and shouldars is definatly abolished.

oh yeah thats gone, yeehaw! Hope some of you guys went long on that fake pullback! Big buyers trap. Its just gonna keep going up now. Very cheap at 3 digits before the decimal.
Sonicthehedgefund is offline   Reply With Quote
Old Mar 18, 2009, 6:04pm   #5
Rookie
 
Join Date: Jan 2009
Posts: 21
captaincol started this thread The price rise was mainly related to the US$ spike not a demand for gold, which could mean that the imbalance of buyers and sellers could still push the price back down in the short-term. The rest of the week will give an indication of which way this will actually swing.
captaincol is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools


Similar Threads
Thread Thread Starter Forum Replies Last Post
Head and Shoulders - Crude and Gold smbtnt Technical Analysis 2 Oct 9, 2007 10:47am
Head and shoulders deanplake Technical Analysis 7 May 20, 2005 1:24pm
Head and shoulders nefariousbaffler Forex Discussion 1 Apr 16, 2004 11:45am
Dow Head & Shoulders? Bullish Bear Technical Analysis 0 Dec 9, 2002 4:59pm
P & O - Look out for Head and shoulders. Sparky UK Shares 0 Jul 1, 2001 7:57pm


New To Site? Need Help?


All times are GMT -4. The time now is 4:02pm.


Copyright © 2001-2009 Trade2Win Ltd