XAUUSD Approaching Support, Potential Bounce!

FX:XAUUSD   Gold Spot / U.S. Dollar
XAUUSD is approaching its support at 1283.90 (61.8% Fibonacci extension , horizontal swing low support) where it could potentially bounce to its resistance at 1296.27 (50% Fibonacci retracement ).
Stochastic (89, 5, 3) is approaching its support at 2.3% where a corresponding bounce could occur.
Get real-time trading updates at our official Telegram group : https://t.me/ICMarketsroom
Now there could be a take-profyt bounce up... but my target 1200-1220$ is very well in play
The price has broken all your supports level, shall we short it now ? Heheh
lucamodena baqishirzadi
@baqishirzadi, The second support level is still holding on... I suggest to wait a bit for a retracement and short it once it hits the neckline of my H&S scenario
I have just 1 question ? Why not considered level 1280 not 1283 , all are confused every time to draw the line on the wick or body 1 pip can make big difference.
awusaify Mohamedali89
@Mohamedali89, Even 1280 is ok. we refer this as Zone... probability zone.
@awusaify, thanks man for the info
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Send feedback Ideas Published Followers Following Private Messages Chat Sign Out