Gold update; the little pattern I posted yesterday with 2nd neckline being "broken" on 6am 10 min candle ... got an alert but snoring in bed at that hour!
It is an "ugly" right shoulder now .... prefer the shoulders symmetrical .... but its still a right shoulder and a HnS set up.
A backtest to 1308.7 and I will be all over it for a short to 1283ish .... alert set .... although gold has NOT really been following my little lines recently.
FWIW my main interest in the hourly chart I'm referring to is
1. my little hobby CFD trades which I confess again help convince me how HARD ST trading is and I doff my hat to anyone who makes a living from it; doubt I could. Invest (bet?) my pennies here
2. Main game is keeping on top of gold for my real game which is my SMSF and GOLD certainly has my interest medium term. Invest my pounds here.
My old man taught me only one lesson applicable to this game "Count your pennies and the pounds look after themselves.
3. How truly elegant pattern trading is. Right now I have a LEVEL that is a gain a line in sand, 1308.7ish. Price hits that and retreats/resists and it increases the likelihood of the HnS playing out. If it zooms that level then HnS dead and the last few days starts looking like a bullish flag set up. Just sayin' for any TA sceptics??.
Enough rambling ... I must have too muchtime on my hands?
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