XAU/USD for Intraday Friday 01 Jul 2022

Gold Spot / U.S. Dollar (FXOPEN:XAUUSD)

Updated

FXOPEN:XAUUSD Gold Spot / U.S. Dollar

Fibbo H1 indicating north and even tried to spike up to reach top level 100% but unable to do so and made higher lows visibly seen as two towers in two days. As a result of huge spikes this week. I see HRB at 1803-05 with SL 1798 as if the price tests below 1800 then more chances are for a decline. I WILL TAKE THIS HRB DUE TO FIBBO AND THE US DATA THAT CAME NEGATIVE FOR GOLD. Now BB44 mid band with 50% level serving as resistance at 1817 and Sma200 with BB44 upper band at 1828. So a MRS is located at 1817 and LRS at 1828. D1 TF has started closing under 1818-23 and price is also under MACRO FIBBO 61.8 (1823). There are more chances of a descend towards The Great Wall (1778-83) and less chances to ascend. I WILL WAIT FOR THE PRICE TO MAKE A TOP AT 1812 (Fibbo 38.2%) (HRS) OR 1817 (Fibbo 50.0%) (MRS)

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NOTE:- PLEASE KEEP IN MIND THAT I ONLY TRADE FOR 30-50 PIPS

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Those who are also member of Investing.com please send message there that I am unable to post at the forum. I don't know but my post is not getting through.

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Have a look at latest development at H1 TF. How about the third tower? A MRS is developing and can be done in layers from 1808-13

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