IN THE NAME OF ALLAH THE MOST GRACIOUS THE MOST MERCIFUL
GOLD IS FORMING A SIGNIFICANT BUTTERFLY SELL SETUP
THE 1.27 XA LEG DEFINED THE LOWER RANGE OF THE HARMONIC RESISTANCE AT $1792, WHILE THE ALTERNATE 1.27 AB=CD, AND THE 2.24 BC PROJECTION COMPLEMENT THIS AREA AT $1795 AND $1800
SO IDEAL REVERSAL, QUITE POSSIBLY OCCURES IN RANGE OF 1790-1800
BUT INVERSE HEAD AND SHOULDERS FAVOR THE ODDS THAT THE PRICE ACTION MAY EXTANDED TO $1825 AT THE 1.618 XA LEG NOT THE 1.27 XA
HOW TO TRADE:IF UR AGGRESSIVE TRADER, OPITMAL ENTRY POINT AT THE LOW OF THE RIGHT SHOULDER AT $1704, OR IF UR A CONSERVATIVE TRADER U CAN WAIT THE CLOSING ABOVE $1745( AFTER INVERSE HEAD AND SHOULDERS HAS CONFIRMED, OR PRICE ACTION CLOSES ABOVE ( B) POINT IN HARMONIC PATTERN )TO TRIGGER THE BULLISH TRADE UNTIL THE COMPLETION POINT OF THE PATTERN
STOP LOSS OR PROTECTIVE POINT(FOR LONG POSITION):PLACE UR PROTECTIVE POINT WHEN THE PRICE ACTION BREAKS THE UPTREND(RED LINE).AND PLACE UR STOP LOSS BELOW $1743 FOR SHORT TERM TRADER , $1700 FOR MEDIUM TERM TRADER, $1660 FOR LONG TERM TRADER
EVENTTUALLY, MAKE UR MAIN RULE IN STOP LOSS, THAT TO GET OUT UR POSITION WHEN PRICES BREAK 10% BELOW THE PURCHASE PRICE, OR BELOW THE NEAREST UNDERLYING SUPPORT OF THE PURCHASE PRICE
