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

Thursday, July 1, 2010

EURUSD Bullish H&S scenario is not matching the "puzzle"

Via twitter i posted a chart analysis on a possible EURUSD Bullish Head and Shoulders Pattern.



This scenario is not matching the "puzzle" composed by S&P, Gold and Oil.
Both, S&P and Oil are developing possibles Bearish Head and Shoulders scenarios, while Gold is making a Rising Wedge, signifinig an inminent drop down.
I have to cite Bob Pretcher`s study in which he analize that Gold tends to rise in expanding periods, not in contracting ones. S&P and Oil bearish scenarios will be coherent with a contracting period , so with a drop in Gold price (Rising Wedge Scenario).
In my humbbe opinion, if the hipothesis/scenarios stated for S&P, Gold and Oil comes true, an EURUSD bullish scenario is not easy to realize.


S&P

Oil

Gold

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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