#XAUUSD, H4 is approaching our Pivot, potential for a drop.
Description
Price is testing our Pivot point at 1876.61, which is in line with 38.2% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap. We could potentially see a drop from our Pivot point towards our 1st support level at 1845.44, which is in line with 161.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap. It's worth noting that price is under the Ichimoku cloud, in line with our bearish analysis.
Pivot: 1876.61
Why we like it:
38.2% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 1845.44
Why we like it:
161.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Resistance: 1890.74
Why we like it:
61.8% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap.
Trading FX & CFDs carries high risk.
Price is testing our Pivot point at 1876.61, which is in line with 38.2% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap. We could potentially see a drop from our Pivot point towards our 1st support level at 1845.44, which is in line with 161.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap. It's worth noting that price is under the Ichimoku cloud, in line with our bearish analysis.
Pivot: 1876.61
Why we like it:
38.2% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 1845.44
Why we like it:
161.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Resistance: 1890.74
Why we like it:
61.8% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap.
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.