Wednesday, 28 August 2013

Can you see and heads and shoulders on this chart? 2013-08-28

Here is an exercise. I looked at the 240 minute candlestick gold chart and turned my computer upside down. Here is the equivalent (no need to turn your computer upside down; I inverted the chart already).

Now see if you can see any head and shoulders formations. Are there ten or twenty?

[Update: Now, is this not ironic? This is almost exaxctly the time when the gold chart stopped showing reverse heads and shoulders and changed behaviour to form a large bearish head and shoulders that looks like the above figure, without being inverted!]

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