GOLD PRO Weekly July 20-24, 2015

[fight2live]

Currently guys, we see only one possible pattern that could trigger this bounce. And this pattern is "222' Buy. How knows, may be later we will get some other, but right now let's focus on this one. IF our suggestion is correct, upside bounce could start from 1185 level. Potential target is 1123 or 1130. Anyway gold will stay inside the long black candle:

Why we think on 1185? On hourly chart we have small butterfly in progress that has the same 1.618 extension:

So, let's see whether it will work or not. At least right now we do not see any other patterns and chances for short-term trading here...

did you mean 1085? if so, i think i'm gonna put a buy limit there with 1110 or 1120 as target..

i've been reading AND trading your suggestion since gold started it's bearish trend at about 1200 level. thanks for that, i netted myself a good amount of profit. since this is my first time replying to this post, allow me to say THANK YOU SO MUCH. keep up the good work!