Gold Bullish Butterfly Forming – Reversal Ahead?As I expected in the previous idea , Gold started declining from the Resistance zone($4,192 – $4,137) and has now reached the Support zone($4,004 – $3,895) — full target achieved .
At the moment, Gold is moving within that Support zone($4,004 – $3,895) and Potential Reversal Zone(PRZ) .
Looking at the 1-hour time frame , we can spot a Bullish Butterfly Harmonic Pattern forming, which is likely to complete right in that PRZ .
I expect that in the coming hours, once Gold enters the PRZ , it could rise at least up to around $4,057(First Target) .
Second Target: $4,132
Stop Loss(SL): $3,889(Worst)
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Gold Analyze (XAUUSD), 1-hour time frame.
Be sure to follow the updated ideas.
Do not forget to put a Stop loss for your positions (For every position you want to open).
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