wajidalikhan2123

XAU/USD INTRADAY FOR MONDAY 16 2022

Long
FXOPEN:XAUUSD   Gold Spot / U.S. Dollar
It is very obvious that retracement is always due and in support of this stance, fibbo h1 is indicating test zone of 183x fibbo 50% and 185x fibbo 100%. It gets more confirm if this double bottom forming gets activated at fibbo 0% 1798-1803 zone. To reverse the price action from bearish to bullish, the price must start closing in D1 TF in the zone 183x-185x. This situation is in support of D1 TF candle stick patterns where last candle is a doji accompanied by king bear candle. To complete this pattern, next candle should close as king bull candle and that closing is also ends in the zone. If the both scene didn't happened as planned and price keeps moving towards our famous THE GREAT WALL 1778-83, then there is a last hope for bulls that price may bounce from this wall as it has happened in the past many times.Breaking this wall will lead to long long awaited MACRO FIBBO 100% 1670. I don't have excess to insert or attach my personal charts shared at my group otherwise it would be more easy to explain what I mean here.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.