themarketzone
Short

Two harmonics in Gold - Short term bearish ideas

FX:XAUUSD   Gold Spot / U.S. Dollar
After my previous bullish trading ideas on Gold             , it has found the momentum to breakout of its daily down trend line .
Now Gold             is facing a strong resistance zone and it is presenting two shorting opportunities based on two harmonic patterns:
1. Bearish AB=CD - Already completed. Right at a daily resistance zone .
2. Bearish Cypher - In case that $XAUUSD will make the attempt to reach 1300$.

I consider both of these setups as short term correction before trying to catch a continuation trade with the new uptrend.

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