# Previous RSI resistance broken that was around 60.80 level,
# If level 1320 gets broken, then the price should target 1344,
# Forming a Bullish Butterfly Pattern ?
Leg XA started at 1049. Leg AB is 78.6 % retracement of Leg XA (1049-1373) @ 1121.17
Leg BC should be 38.2 % - 88.6 % of Leg AB (1121.17 - 1344.58 (if it...
XAU USD seems to be in a formation of Bullish Butterfly advance pattern. The anchor leg XA seems to have been set, so has the AB leg retracement of 0.786 of the anchor leg. Currently in formation of BC leg, we've got to wait and see where it terminates in between 1219 and 1345 (0.386 and 0.886 retracement of the leg AB). If this leg BC validates itself, then we'd...
RSI divergence and the price pushing itself back into the channel inspired us to look for possible further upside move in this pair.
We will look into 1H chart and see a setup for entry there.
Let's see if this Flag pattern validates itself, if it does, the price movement can be...
As it is always said "The picture speaks of itself", if the index movement concluded as seen in the image, it'd be great. Likewise inverse relation with USD related pairs are anticipated. What do you guys think ?