My opinion and I realize you didn't ask me but 101 trading also explains that NEWS TRUMPS! It trumps everything! And the current news is that IF the price of gold has found it's bottom and futures are currently up, we'll turn around regardless of the charts.
If this thing is as big as I've read about and patiently personally believe..just hang on...Put this on HOLD! Don't sell a thing..because when something does break it will be in a furry upward...and murphys law..it will happen as soon as you sell.
Please describe where you are seeing the possible head and shoulders so we are talking about the same thing. I can share a lot of specifics on patterns that do help invalidate or validate them - just because prices form a pattern that visually looks right, it must have a full list of conditions met to be valid.
Just tell me about where you see this formation, for example, on the daily or weekly or ? and from what date to what date would be the approximate neckline. I can post a chart of what you describe so we can see it.
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