Gold XAUUSD Intraday Signal 23-08-23

Gold Spot / U.S. Dollar (FXOPEN:XAUUSD)

Updated

FXOPEN:XAUUSD Gold Spot / U.S. Dollar

trendanalysis chartpattern indicator foryou goldtrade xauusd forexsignals

Wow! It is crazy now. Look at the positions. Sma200 at 1902 between 23.6% 1900 and 0.0% 1904 and sma44 1894 combined with 50% level and the price is on support 38.2% 1897. We are in real squeezed area so need to have a look at few larger time frames. In H4 sma44 is at 1897 and in D1 sma200 is at 1908. So here is the picture, if price breaks upwards sma44 in H4 at 1897 and it becomes support then we might visit 1908. On the other hand if the price breaks downwards then next further 1894 is to be broken where sma44 and 50.0% level is on support, then we may test 1885-87 area again. As the trend is also bending towards bullish side there is a good chance of a buy between 1895-97, I go with 1895 to pick a buy. For sell side at least 1905-08 area is MRS to be considered. Very critical position I see in Gold for today. Use stop loss mandatory and do not change it. Take care and good luck.

Comment:

Do not step in buy from 1895-97 area. Kindly watch our for the momentum. Second opportunity to buy maybe at 1885-87

Comment:

Stop Loss Hit Today from 1905 to 1910. Accept the loss and should not do revenge trading. Trade next day.

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