FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
D leg is very close to 61% fibo. If You watched my previous butterfly on EURGBP they are very similar as structure. Both are pointing to 61%. Good luck.
Trade closed: target reached: 61% fibo was hit on friday with NFP. Butterfly d-leg ended in range 1.272-1.618 and created an uptrend after. As I said, sells were closed by hitting TP and one buy was opened as a buy limit order. I will be more active now since Ive finished few days takeoff from my 8h job and trading.

Comments

Hi Mario,
I saw the butterfly analysis several times in this website, but I do not understand it. Could you please elucidate. Meanwhile according to you are there any criteria for preliminary guessing bottoms and tops of the trend. Of course MACD will signalize some time after the reversal begin, but it will be very good if we know some criteria for preliminary determination.
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Mario_PLN fhsk2001
@fhsk2001, if we would knew such a things we would be rich people.
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fhsk2001 Mario_PLN
@Mario_PLN, Yes, it is true.
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