Roker1
Short

Possible Reversal Zone on GOLD

FX:XAUUSD   Gold Spot / U.S. Dollar
Hi guys,
today i want to bring you my view of gold . It's been in a recent uptrend and it's creating new highs but i think this could be a bigger retracement of the downtrend in the big picture (weekly).
By using a simple AB=CD harmonic pattern and two Fibonacci levels i've managed to create a small reversal zone where price actually is right now.
Here we have two different AB=CD harmonic patterns , a 618 retracement and a 1.618 extension .
The RSI is in overbought condition.
All these conditions together make me think it could be a nice shorting setup.

If you want to share your view, feel free to comment below.
Otherwise, see you in the next chart!
Se sei d'accordo, lascia un mi piace! Grazie
Canale Italiano: https://www.youtube.com/c/MisterForexIT
Ultimo video: https://youtu.be/0rIFF-j4kdM

If you agree, like this chart! Thanks
My last (english) videoanalysis here: https://youtu.be/RUySg8LW6Iw
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