XAU Buy
Updated
On the daily, I see that price was in a downtrend and hitting -27 on the daily fib, triple bottom on support and reversing for the buy.
On the 4HR, I can see that price was trending downward hitting a triple bottom on support and reversing for the buy. Retraced to 50% so far on the FIB.
On the 1HR, I see that price was in a downtrend and currently has been consolidating on a weekly key level. RSI is Bullish.
CURRENTLY: I am looking to see if price will hit the -61.8 on minor FIB, back to the 1HR trendline... ultimately make its way back to previous support / resistance level @ -61.8 on the 1HR fib this week.
(50 - 200 pips)
On the 4HR, I can see that price was trending downward hitting a triple bottom on support and reversing for the buy. Retraced to 50% so far on the FIB.
On the 1HR, I see that price was in a downtrend and currently has been consolidating on a weekly key level. RSI is Bullish.
CURRENTLY: I am looking to see if price will hit the -61.8 on minor FIB, back to the 1HR trendline... ultimately make its way back to previous support / resistance level @ -61.8 on the 1HR fib this week.
(50 - 200 pips)
Trade closed: target reached
1St target on the 1HR trendline is hit. But since price had a lower pullback, I am going to redraw the FIB for the buy continuation for the week.
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.