Gold may retest upper channel to form a bullish butterfly
Mis à jour
1. Moving along newly set bullish trend line.
2. Upper channel coincide with 382 retrace and point (c) of bullish butterfly
3. Continuation of making a flag along upper trend line.
4. Point (d) of butterfly will coincide with TP target of previous idea
This is a short term trade up, then down, then up again if butterfly pattern is formed. Otherwise, bias for gold remains bearish.
2. Upper channel coincide with 382 retrace and point (c) of bullish butterfly
3. Continuation of making a flag along upper trend line.
4. Point (d) of butterfly will coincide with TP target of previous idea
This is a short term trade up, then down, then up again if butterfly pattern is formed. Otherwise, bias for gold remains bearish.
Note
Gold long is looking good. Resistance at 1234 area will be a critical point for this pattern to complete.Note
Almost there. Watch for 1250-1252 levels for possible break up or reversal. If it breaks, it'll go to 1260 and higher.Note
300 pips, please take profit and shift your stop loss. If it doesn't turn, it will go all the way up.Trade fermée: cible de profit atteinte
All yours guys.
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