Hi,
10 April 2009, Good Friday. Gold Chart. cmp 877.80 $

IHS under development. Right shoulder not yet made. Neckline far away.
If Gold doesnot fall below 800 $ for safety.
and
starts moving up from here uptill 1000 $
and
then crosses 1000 with a sharp rise in volume,
then
we can see Gold @ 1300 $ Levels Minimum.
Risk 877-800 = 77 $,
Reward 1000-877= 133 $,
Extra Reward 1300-1000 =300 $
Total Risk 77, Total Reward 433 $.
Now question is is it worth a try ?
Answer is simple.
IHS Pattern is not yet complete. So its not IHS unless it crosses 1000 mark.
We are hereby assuming that it might become IHS.
so
If you are aggresive player and can take risk then Trade now.
or
If you want probability and Technical Analysis in u r favour then better wait untill 1000 is crossed.
Thanks & Regards
Navneet Singhal