XAUUSD (GOLD) INTRADAY 14-08-23
MONDAY 14-08-23, INTRADAY H1 TIME FRAME SETUP. There are three visible patterns and there activation point is 1910. The most important one is a Bear flag in black because it is likely to happen fast and price may test 0.0% 1910. Secondly, on reaching 1910 at 0.0% level the DB situation in yellow may trigger the price to bounce back towards 23.6% at 1915. This may be the point of impact as if this one is broken then 1915 may become support for the day and may lead to activation point of DB in yellow at 50% 1920. The Head & Shoulder in green is also dependent on the breakage of 0.0% level 1910. As trend is still down so I will make my first attempt of sell at 1915, if the breakage happens at this point of impact then my second target will be at 78.6% 1925 where sma200 may come for the interception of price.
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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.