XAU/USD for Intraday Tuesday Jul 05 2022

Fibbo H1 is now indicating south direction. Only H1 and H4 Tfs were sending buy signal but now they are turning towards sell signal. Now MRS is in 1808-1813 zone with SL 1816 because if price crosses this number then again it might test 1818-23 where Sma200 is waiting to resist. However there are only 33% chances for this test. H1 TF is forming Bear Flag and H4 is similar. D1 has a doji after a bullish candle. W1 price is still under descending trend line and same MN price under 61.8% level of MACRO FIBBO. Even I am thinking to reduce lots size and do layering if price gets over 1816. Choose the way you like.

Comment:

NOTE DOWN AND REMEMBER! CLOSED 86.14 OPEN 83.59 GAP DOWN TODAY. THIS IS A HUGE GAP NEARLY $2.5 AND NEED TO BE FILLED. KEEP YOUR EYES ON 1753 OR 1723 HUGE BOUNCE BACK CAN OCCUR AT THESE POINTS.