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  • bob.bull99 bob.bull99 Aug 29, 2011 2:08 PM Flag

    HEAD and SHOULDER formed..RUN faster

    What is a head shouldrs? What is this junk? ALL I KNW IS GOLD ONLY GO UP UP UP!

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    • People who put money in the market should at least know about common situations in the market. Head and Shoulders patterns are common chart patterns that signify a reversal in a current trend.

      As for the original poster, there is no head and shoulders yet because this particular chart pattern only confirms when the neckline is breached by the right shoulder, which has not happened yet. Practically speaking, this is a high probability head and shoulders, but in all reality it could still become a double top.

      And if anyone is curious as to my position, I am shorting gold since the RSI divergence that occured at the top peak of the wouldbe 'head' of the pattern.

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