titi

Gold with H&S on W as well

FX:XAUUSD   Gold / U.S. Dollar
325 7 2
H&S on XAU weekly as well. The current move could go up to the descending TL at 1353 which is also the height of the shoulders. Should it find strong Res there, the measured move down if 1276 is broken is until 1120, 1.618 fib extension of move down starting at 1433             .
Intermediate TGs             are the green boxes.
IMHO we shall consider the bigger H&S inv, instead of the continuation as jpm keeps on covering and the debt ceiling deadline in just 10 days away http://www.cmegroup.com/delivery_reports/Gold_Stocks.xls
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titi Ecantoni
Thanks for your comments. I primarily work with technicals and appreciate your view.
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Looks like 1276 is broken. Been adding shorts at rallies, more patience is asked...but until now largely rewarding
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