Mar de Leva (swell waves) en Cartagena de Indias - Colombia

Friday, September 4, 2009

Gold`s long term inverted H&S is about to explode

I think Gold is unfolding an Inverted Head and Shoulders Pattern, now challenging Neckline`s level.
2009-09-04_0629

What i think is that is important to note is how price is approaching to the neckline level, related to the Moving averages orientation.
Note how the proceeded times when price touched neckline, those MA`s where not as good positioned as now.
See how they are in attacking the neckline in a very nice “trend mode”, meaning with that, they are all parallels and pointing to the same direction.
Also note how in the actual approach, the AO indicator (bottom histogram), is above the zero line but beginning its “upstairs” move, opposite to the previous touches, where it was beginning its “downstairs” move.

2009-09-04_0622

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Performance

Here i`ll post my performance on a USD 200 demo account. After trading for 2 months, i`ll create a new one.

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