XAUUSD, H4 is approaching our Pivot point, potential for a drop.
Description
Price is approaching our Pivot point at 1865.30 which is in line with our 50% Fibonacci retracement, 88% Fibonacci extension and horizontal graphical overlap. We could potentially see price drop towards our 1st support level at 1815.19, which is in line with 50% Fibonacci retracement and Horizontal graphical level. It is worth noting that the Ichimoku cloud is showing bearish momentum.
Pivot: 1865.30
Why we like it:
50% Fibonacci retracement, 88% Fibonacci extension and horizontal graphical overlap
1st Support: 1815.19
Why we like it:
50% Fibonacci retracement and Horizontal graphical level
1st Resistance: 1888.88
Why we like it:
61.8% Fibonacci retracement and Horizontal graphical level
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point at 1865.30 which is in line with our 50% Fibonacci retracement, 88% Fibonacci extension and horizontal graphical overlap. We could potentially see price drop towards our 1st support level at 1815.19, which is in line with 50% Fibonacci retracement and Horizontal graphical level. It is worth noting that the Ichimoku cloud is showing bearish momentum.
Pivot: 1865.30
Why we like it:
50% Fibonacci retracement, 88% Fibonacci extension and horizontal graphical overlap
1st Support: 1815.19
Why we like it:
50% Fibonacci retracement and Horizontal graphical level
1st Resistance: 1888.88
Why we like it:
61.8% Fibonacci retracement and Horizontal graphical level
Trading FX & CFDs carries high risk.
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.
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.