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Short

Gold forms Bearish Butterfly Pattern, good to sell on rallies

FX:XAUUSD   Gold Spot / U.S. Dollar
670 4 23
Harmonic Pattern formed – Bearish Butterfly pattern

Potential Reversal Zone ( PRZ)- $1284.79

The commodity has made a high of $1283.79 and declined from that level. Short term trend is slightly bearish as long as resistance $1285 holds.

Any break above $1285 will take the commodity to next level till $1310/$1325 in short term.

On the lower side major support is around $1260 and any break below targets $1250/$1245/$1238.

Short term trend reversal only below $1225.

It is good to sell on rallies around $1275-$1278 with SL around $1285 for the TP of $1256/1238
Modeled crab
CD = 1.272 or 1.686 XA
can price up to 1304
I think everything can happen. Good luck
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Well done and thanks for another brilliant signal,
Have a great weekend.
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Really fantastic!
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FtseSignals tntsunrise
I must say I have stopped using my own indicators since I came-across FxWirePro, he is always spot on on all his analysis,
I love the Gold, FTSE & DAX analysis from FxWirePro ALWAYS Profitable.
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