Xau/usd massive sell setup

Based on the daily timeframe we saw a nice upward trend and now price is retracing to respect the fib level, when you look at H4 and H1 you will see price action showing high momentum and volatility to downside, so first target should be around 31.8% fib level and if price continue we need to look for 1810 for our final target


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Trade closed: target reached:

we have achieved our target profit of about 530 pips