XAU/USD for Intraday Thursday 30 Jun 2022

Short

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

Updated

FXOPEN:XAUUSD Gold Spot / U.S. Dollar

Fibbo H1 indicating south and the candle pattern is in formation of a bear flag. Secondly BB44 mid band is still guarding 1818-23 area and is way apart from Sma200 which is at 1828-33 area. So a MRS is located at 1820-23 area with SL at least 1826. Still keeping tite stop loss due to huge spikes already alerted and we have just experienced it yesterday. In H4 BB44 mid band is under Sma 200 and in D1 BB44 mid band and Sma200 both are at one point 1845. A possible HnS may activate at 1811 bringing price further down to 1797.

Comment:

NOTE : - Please do keep in mind that these patterns are in formation and activation is still required. I have tried my best to show the possible formation and the activation points too. Bear Flag may activate from 1820-23 area and completion is at 1811. Similarly for HnS the vacant path of the diagram must fill it to activate it from 1811 to complete it at 1797.

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