FiboLovers

FiboLovers

Hello, this is my view for gold. After reaching my target on previous setup, daily timeframe showed clear picture for long. But there must be some correction on smaller timeframe.

FiboLovers

Price cannot break 261 fibo level and breakout sell at H1. Now expecting gold to retrace at 261 level before moving up again. In addition, 261 level got some nice support and resistance.

FiboLovers

After massive move from gold, now its already shows reversal. Price broke previous resistance and pullback to 161 level on fibo as per my last idea. Now price sideways for a while and break its resistance. Price will go more as oscillator shows convergence.

FiboLovers

As per shown, Price break nearest SNR and moved up to 161 level. Price expect to retrace at RBS level to form SBR. Please note that elliot wave counting on this timeframe only as a draft and not official. In addition, divergence formed to indicate reversal pattern.

FiboLovers

GOLD already moved higher from last previous high indicate long mode activated. Look for ending of retracement at 30 minutes chart as shown. Good Luck!

FiboLovers

Unexpected move for GOLD reaching 261 fibo level. Personally I will wait for pullback to enter long. Lets see what happen at this level. This is also a strong level as its reached 261 fibo and SBR zone.

FiboLovers

GBPUSD moving up as expected but H4 shown that its already break dominan candle. My target will be on 161 which is also SBR zone. Hapoy trading!

FiboLovers

GOLD moving up to our target which is 261 fibo level. Happy trading!

FiboLovers

GBPAUD already break 261 fibo level on H4 chart. As seen, its formed convergence shows by oscillator. My expectation is pullback on H1 to fibo 161 level and SBR area. Then price will move downtrend to make new low. If price move higher and break SBR zone and 161 level, this setup consider invalid and price will move to 261.

FiboLovers

GBPUSD formed divergence on H4 indicate that whatever moving up is only temporary. H4 already touch 423 level on fibonacci. Price is expected to retrace until 161 and 261 fibonacci level on H1 as per marking. Will price make new low?

FiboLovers

As per expected, Gold break first SNR zone and retrace to go up due to divergence formed at H1 chart. Initial target is at SBR zone and 161 fibo level.

FiboLovers

H1 formed divergen as a signal of changing direction to long mode after reaching major support zone. But price need to break SBR zone first to indicate its direction.

FiboLovers

Finally Gold touch 423 fibo level on 15 minutes which is 261 for Daily timeframe. Its time to wait for any uptrend movement to consider long mode.

FiboLovers

Price didnt move up as expected and stop around swap zone area. Then break nearest support to form downtrend move on 15 minutes chart. Now retracement completed and lets wait for the price to enter major support zone and 423 fibo level

FiboLovers

After reaching major support at 423 fibonacci level, Gold expected to bounce for a while for a new low inside previous major support. Retracement level is expected at 161 and minor H1 support.

FiboLovers

Updating my previous idea on GOLD, still looking short for intraday until reach previous major support zone. In addition, this support zone is inside 423 fibonacci level. Downtrend movement formed falling channel to the support zone and fibonacci level

FiboLovers

Based on my fibonacci retracement, initial target for H4 is at 423 fibonacci level. This level also is in fibonacci level for Daily timeframe. Any uptrend move on lower timeframe is just for retracement.