Gold Spot / U.S. DollarUpdated XAU/USD for Intraday Thursday 08-09-22
WAJIDXAUUSDCHANNEL, [08-Sep-22 3:13 AM]
[Forwarded from WAJIDXAUUSDCHANNEL (Wajid Ali)]
Fibbo H1 indicating north and the momentum has also showed his face towards north. So if today D1 close above 1723 then we may begin a short term upward trend or you may say a huge retracement upto 1753. For today a MRB is located at 61.8% 1713.38 and at the most 50.0% 1709.20 as Sma44 is on 1707.39 but few hours later it will be around 1709-1713. Keep an eye on Sma44 if the price tags any of the fibbo level with Sma44, It is going to be a very good buy position. Stoch is rising in H1 H4 and D1 also. So it is better to find a buy position rather to look for a sell.
[Forwarded from WAJIDXAUUSDCHANNEL (Wajid Ali)]
Fibbo H1 indicating north and the momentum has also showed his face towards north. So if today D1 close above 1723 then we may begin a short term upward trend or you may say a huge retracement upto 1753. For today a MRB is located at 61.8% 1713.38 and at the most 50.0% 1709.20 as Sma44 is on 1707.39 but few hours later it will be around 1709-1713. Keep an eye on Sma44 if the price tags any of the fibbo level with Sma44, It is going to be a very good buy position. Stoch is rising in H1 H4 and D1 also. So it is better to find a buy position rather to look for a sell.
Note
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There is a HRB here at 1717-18 position but with tite SL at 1715Note
You must be thinking that if buy is at 1713 so why don't we take a sell from 1718 to 1713? Momentum is bullish and the price can take a U turn in between at any point. This is the reason to wait and pick a possible bottom (As worked). Otherwise risk is also at low risk trades but the usage of Stop Loss covers it.
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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.