POG - down 30%

OK sorry Remo, of course it is so does that mean there is no value at all to the pattern? Obviously as a H&S it would be valid at the top of a rise but does it have any value here a the bottom?

Hi shotry
That's not an inverse head and shoulder....IHS is the opposite of a head and shoulders. Upside down basically.
Hope that makes sense.

screencast.com/t/K2aa0hSJt

I've just had a look at POG. I entered this morning at 78.8 having already held a position with an average around 80 so no strategic advantage wrt bringing my SP down, but once the short trerm triangle pattern was invalidated by move up beyond a retest of it's lower trendline I was comfortable buying more based on indicators (notably MACD on daily/4h/1h).

Just wanted to open up the possibility of an iH&S pattern on the daily chart (not activated) for discussion. I've annotated the chart in some detail for discussion and would love other views on it.

Thanks

Fats

I almost pressed buy at 69p, then chickend out...
It was worth the risk..may b lol

sure RRS will be up atleast 500p tomorrow.... jeez....

Good luck to tall

ta
G

So, with gold sitting at 1365.1 as i type - it could be more by the time I've finished - is there anyone who could hazard a guess at what this might open at tomorrow morning??

How about 91 as a starter??

Happy days

Anne

ps - it's now climbed to 1366.6 - this is soooo exciting!!

Best level now to enter this on a quick trade would be on a first attempt basis at 63.
You have to use tight stops on this. may be 3 points. If 63 was breached then this could go a lot lower.So hence the tight stops. 63 level should bounce on a first attempt basis and im hoping that it could form a double bottom(hope). This is for the short term so bear that in mind.


dl.dropboxusercontent.com/u/4899609/pog18thsept.png