Bearish Butterfly - XAUUSD

31 May 2020

Potential bearish butterfly pattern in the making on GOLD. The criteria for the pattern meet for me except the (B) leg i'm not quite happy with. However, the (C) projection is looking very nice, it lines up with a previous resistance level & 1750 round psychological level & an overextended oscillator. All these clues suggest that price might fall around that area (~1750 price level).

Happy trading and have a good week - Use good RR!