Fxprotrader
Short

Gold: Head & Shoulders Completion at Key Resistance

TVC:GOLD   CFDs on Gold (US$ / OZ)
Price broke below the neckline of a head & shoulders pattern signaling a new dowtrend. For those who missed the breakout the better option is to wait as most likely price will retraceto previous structure before selling off. In such case looking for shorts is a nice idea.

This pattern has completed at long-term resistance level - the sliding parallel of a valid slope median line set better seen in the weekly chart.

@Fxprotrader So from the chart, 1324 is a good time to short?
Reply
Fxprotrader monitorr
@monitorr, Yes but keep in mind that you should need a setup to complete. Trading just a level is quite aggressive approach. Keep in mind that should also watch for a safe place to hide your stop-loss..! Other than that, the level you mention is a nice selling point :)
Reply
monitorr Fxprotrader
@Fxprotrader, Excellent. Can you tell me where I can find information on how to recognise when the set up completes? I know what you mean because sometimes I short and it goes way past it then i stop loss and it comes tumbling back down again :D
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out