Bearish butterfly

٢١ يناير ٢٠١٥

It looks there is ongoing formation of bearish butterfly on daily gold chart. The last legg can still extend up to 1.618 before the pattern to be invalidated. So I will follow closely the price action and I will short the gold heavily with target 1 23.6% fibo retracement and target 2 38.2% from the CD legg