WallStScalper

TRX Head test or continuation pattern?

AMEX:TRX   TANZANIAN ROYALTY EXPLORATION CORP
123 3 1
At 60min / daily I see a bigger SHS             . On the smaller time frames there is a possibility - first of all of a IHS             with a consolidation period right now around 2,49 neckline. This IHS             could create a later head test with a reach of the 1,27 fib. From there on...let's wait and see. Gold             is still weak and could still be working on a double bottom in the 1200 area. The clouds on this development hasn't cleared yet
I'm out Here at 3,69...waiting for next move and Ben Bankster to speak tomorrow. Gold still not showing any signs of strength.
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Well doesn't seem to be the small IHS I looked for on the chart above but a bigger one could be setting up. BUT BUT!!! Gold need to show some strength or create a double bottom if that is to become the case. Right now I see a 5th EW topping out around 3,69 before a retrace. Therefore a new chart with new fib settings.
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WallStScalper PRO WallStScalper
Sorry I wrote on above chart ATH top...it's not - it's the September 2012 top. I'll produce a weekly chart for better overview: Coming up
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