XAUUSD - Monthly and weekly timeframes showing fractal pattern
The monthly support zone between 1675 and 1700 has been tested multiple times (5x) from 2020 to 2021.
These successive test phases seem to repeat themselves like a fractal on the weekly calendar from 2021 with a test phase of the support zone between 1740 and 1760.
Both test areas are located at the golden ratio of 0.618 of the Fibonacci retracement taken during the last largest bullish impulses.
Potential bullish continuation materialized by the repeated rejections of the support zones.
These successive test phases seem to repeat themselves like a fractal on the weekly calendar from 2021 with a test phase of the support zone between 1740 and 1760.
Both test areas are located at the golden ratio of 0.618 of the Fibonacci retracement taken during the last largest bullish impulses.
Potential bullish continuation materialized by the repeated rejections of the support zones.