The previous bearish bat idea posted on gold requires price to push much higher for entry.
To potentially reach this entry the bullish butterfly could potentially push price to this area.
The butterfly utilises a 78.6 % B point which is denoted on the chart.
At entry on the 127% XA measurement ( stop at 161.8% ) we can also see the 224% BC Projection and The AB=CD ( 100% ) .
All 3 measurements were broken in a single bearish candle confirming the pattern.
To potentially reach this entry the bullish butterfly could potentially push price to this area.
The butterfly utilises a 78.6 % B point which is denoted on the chart.
At entry on the 127% XA measurement ( stop at 161.8% ) we can also see the 224% BC Projection and The AB=CD ( 100% ) .
All 3 measurements were broken in a single bearish candle confirming the pattern.