The bearish Butterfly pattern is indicating a possible retracement for the GOLD to reach the precedent high reached in year 2011.
When the market will go up again and break the blue horizontal line, the next target is clearly the next Fibonacci Level which corresponds to 2179.1 price.
the Butterfly pattern may be a failing pattern, but the two last candles are comforting my idea. However, we are talking in terms of percentages, so Always keep an eye on volumes and detecting icebergs.
When the market will go up again and break the blue horizontal line, the next target is clearly the next Fibonacci Level which corresponds to 2179.1 price.
the Butterfly pattern may be a failing pattern, but the two last candles are comforting my idea. However, we are talking in terms of percentages, so Always keep an eye on volumes and detecting icebergs.
