DislikedIn order for that head and shoulders to play out, a weekly bar has to close beneath a 7 year old trend line that has not been broken since Sep 2000. It took a crack at it last week, but couldn't get through it. It tried at the Aug lows but couldn't get through it. So are times bad enough for that to happen? I don't know, maybe, maybe not. But as each week passes and that trend line is not broken, it's price gets higher and higher.
Time will tell.Ignored
My friend, truer words were never spoken. Yes, there is a lot of doom and gloom out there---but the chart remains as a quite, yet unyeilding reminder that we are now (and have been for 7 years) in an uptrend! I am becomming a believer in that line. When we get near it again I will load up on a long term long position---with 300 pip SL and 3000pip TP! If it goes in my direction I hope I will have the patience and discipline to wait it out till it hits TP!