Possible bat formation for gold

Look for a break below that short-term trend line to form a bat pattern at the 0.886 retracement of the first leg.

Enter at 1230.78.
Stop loss is based on that piece of structure before the start of the pattern and is 1217.03.
Profit targets are 1249.61 and 1261.07 based on Fibonacci levels.

I think this will be further consolidation before a lengthy move down.

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