Friday, August 30, 2013

Gold retracement


Gold retracement by steveoliveira on TradingView.com



We are near the completion of an ABCD pattern. Following the harmonic rules, a C point retracement leaves up with a 200%BC projection
I think we could see some downside, which is confirmed by a hidden price divergence (not on the chart).

Please take notice, that there were very strong sell offs and we are still in the bears zone.

Thanks,

S.

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