McQuant

Bullish Gold with some short bearish affair at the begining

Long
FX:XAUUSD   Gold Spot / U.S. Dollar
3
This is possible scenario how the gold will move next. When it comes to harmonic patterns in price action prediction we can see that Bearish Butterfly could fit well. So if B point (1330) holds and C point will be confirmed (either at 38.2 1274 or deeper at 50, 61.8, 78.6 or 88.6 retracement), price could go higher up to 1438. 38.2 is very likely future C point when recent strong bullish moved taken into the account.
There is also emerging another eventual harmonic pattern that could be drawn from 2013-08-28 pin bar (not present on this chart).

Chase value, not price
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