fxkronk

Gold: Potential Bullish Bat Pattern

Long
FX:XAUUSD   Gold Spot / U.S. Dollar
Although gold is in a downtrend i believe we have a very nice buy set ahead. After price broke a medium term resistance level in the previous days is in a corrective structure. If it retrace a little more we have a bullish bat pattern completion.

Speaking in elliot waves if price hits D point (.886) of the bat pattern and starts climbing we would be at the beggining of elliot wave 3

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Comments

Nice bounce at 78.6
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