XAU/USD INTRADAY WEDNESDAY 18 MAY 2022
Combined with last session analysis, price still can bounce back from 1812-15 now taking 50% fibbo level at suport. This bounce may lead to test 1818-23 at 23.65 level first and then 183x at 0.0% which seems very difficult to reach. As fibbo H1 indicates a decline towards 1787 where fibbo H1 100% level is still on charge. The only hurdle between this is BB44 lower band at 1797 area. 1797 being a good and strong SNR in the past.
Note
As the price is in between. I will wait for a good top or bottom according to fibbo H1 reading to decide an entry. It is not advisable to jump in before reaching at one corner.
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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.