WallStScalper

TRX Head test or continuation pattern?

AMEX:TRX   TANZANIAN ROYALTY EXPL CORP
123 3 0
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
Wall St Scalper
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
3 years ago
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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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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