fximperija
Short

Gold in correction mode

FX:XAUUSD   Gold Spot / U.S. Dollar
242 2 4
After completing this daily bearish cypher PA went south to hit T1 @1310, cont. lower to the 50 fib @1285 and there is a high possibility to hit the T2 @1260. Reaching the 78.6 @1224 not impossible and reversing bullish since gold             made a new high and this bearish correction with a higher low could mean a trend reversal to bullish .
Three black crows @ the end of this week on the weekly reaching the 61.8 level. I am looking to go short after a little retrace on the 61.8 fib level. There is also forming a nice triple bottom on the weekly, that means <1200 is possible by the end of May!
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hey u have any idea about engulfing pattern which has happened in weekly chart? i think it indicates that bullish trend is over
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