We can see on the hourly timeframe that Gold had a strong climb at the end of January up to the highs of 1592 and retraced 78.6% of that move just earlier today.
It has just retraced 38.2% of the down move from the weekly open.
The pattern thus far is similar to a bullish butterfly which we may see the ending point around 1557 to 1565 for a bullish buy.
It has just retraced 38.2% of the down move from the weekly open.
The pattern thus far is similar to a bullish butterfly which we may see the ending point around 1557 to 1565 for a bullish buy.