#XAUUSD, H4 is at Pivot, potential for drop
Price is at our Pivot point, which is in line with 61.8% fibonacci retracement , 61.8% fibonacci extension and horizontal graphical overlap and facing bearish pressure from the descending trendline. We could potentially see a drop from our Pivot point towards our 1st support level at 1758.82, in-line with 61.8% and 100% fibonacci extension. It's worth noting that price is under the Ichimoku cloud and may add to the bearish pressure
Pivot: 1775.20
Why we like it:
61.8% fibonacci retracement , 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 1758.82
Why we like it:
61.8% and 100% fibonacci extension
1st Resistance: 1794.83
Why we like it:
61.8% fibonacci retracement , 61.8% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
Pivot: 1775.20
Why we like it:
61.8% fibonacci retracement , 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 1758.82
Why we like it:
61.8% and 100% fibonacci extension
1st Resistance: 1794.83
Why we like it:
61.8% fibonacci retracement , 61.8% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
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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.
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.