tntsunrise
Short

GOLD BUTTERFLY PATTERN AND AB=CD MOVE

FX:XAUUSD   Gold Spot / U.S. Dollar
4652 40 78
1119.00-1119.93
(SHORT GOLD             )
AB=CD BUTTERFLY PATTERN
SL: 1123.66
TP:
1101.50
1090
1055
Trade active
Comment:
Comment: the inverse 1.618 again helps
Comment:
1h charts shows a double top
Comment: Nice Drop, now is 1117.
Trade closed: stop reached: FOC MEETING ,hit stop loss at 1123
Trade active:
Re-entered at 1126 for AB=CD Completion
Comment: SL 1133
Comment:
after break this trend line, gold will continue to drop
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I think a break of your 60m trendline is a fair indication for any drop; and bearish divergence on D1; will keep eye on lower timeframes;
Reply
break below 1108 will take it down to 1090 area again ! good luck for all who are in short :-)

Reply
time for a down move!
Reply
jhakas Tecnologia_Financiera
yesterday view..



gold todays view..
+1 Reply
jhakas jhakas
1114 and 1111 is good support... break is very difficult.. both has supporting trendlines and impt. figures.. break below will target 1106 and 1104
Reply
Rayge jhakas
sure, 1110 has very strong resistance, broke out , gold will down to 1098 area
Reply
jhakas Rayge
for now i think we will see gold again towards 1118 or towards 1122 again.. but a sell opportunity..

Reply
Rayge jhakas
no, if gold wanna go down, it cannot back to 1118 again
Reply
jhakas Rayge
maybe.. but if gold really want to go down then it will kiss 118.5.. but todays break of fomc spike and break of 1113 is indeed good for sellers..
Reply
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