XAUUSD, H4 is approaching our Pivot, potential for a drop..
Description
Price is approaching our Pivot point at 1777.82 which is in line with 61.8% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap. We could potentially see a drop from our Pivot point towards our 1st support level at 1757.02 which is in line with 100%, 61.8% fibonacci extension and swing low support. Do note that MACD is showing bearish pressure in line with our bearish analysis.
Pivot: 1777.82
Why we like it:
61.8% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap
1st Support: 1757.02
Why we like it:
100%, 61.8% fibonacci extension and swing low support
1st Resistance: 1792.08
Why we like it:
88% fibonacci retracement, 127% fibonacci extension and horizontal swing high,
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point at 1777.82 which is in line with 61.8% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap. We could potentially see a drop from our Pivot point towards our 1st support level at 1757.02 which is in line with 100%, 61.8% fibonacci extension and swing low support. Do note that MACD is showing bearish pressure in line with our bearish analysis.
Pivot: 1777.82
Why we like it:
61.8% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap
1st Support: 1757.02
Why we like it:
100%, 61.8% fibonacci extension and swing low support
1st Resistance: 1792.08
Why we like it:
88% fibonacci retracement, 127% fibonacci extension and horizontal swing high,
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.