GOLD - Daily - Only if we break the lower trend.

TVC:GOLD   CFDs on Gold (US$ / OZ)
Now this is exciting.
It is getting deeper into this apex right now, which should blow up this commodity to one of the sides. I am going to be very "clever" here, by saying that it will be up or down!
But on the serious note, if to believe what it is forming right now, then I think that's a Head-and-Shoulders with a beautiful double head. This formation doesn't happen very often, but when it is symmetrical as this one, then it would be a crime for GOLD not to complete it. It is magnificent, I would say. But, of course, you could argue that it's not a double H-a-S formation, because there is a questionable neckline, where a lot of traders would say, that nowhere to be found. Maybe yes. In that case, we can say that this is just a beautiful double top formation. And still the sentiment would be to the down side.

But, be careful! Because the market hates us, and the fact that you can see these formations, everybody else sees that as well. In this scenario we could see a strong push higher, that will break that upper trend line and GOLD will continue higher.

My idea is that, wait, don't jump in yet. Wait for the breaking confirmation and then join in the bandwagon. On this one, I recommend to go with the herd.

As always, keep an eye on the price action!
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out