XAU/USD INTRADAY WEDNESDAY 08 JUN 2022

Note:- I work my plan and if the price reaches my target area I enter the market otherwise leave the trade for the day. I don't change my plan and stick to my strategy during the session.

Fibbo H1 indicating a rise towards 100% level 1858 plus point of impact 1848-53 is still containing Sma200. So there are more chances that price may visit the level. Only one thing is in hurdle and that is a pattern just formed in last three candles. A king bull A doji A king bear. This pattern has formed its initiation depends on the start of the session first H1 candle rise a bit make a wick and declines. The activation needs to cross Sma200 at 1851. All of these situations are happening in the point of impact if you notice.

So for the entry purpose a Medium risk sell is at 1858-63 and similarly a Medium risk buy will commence around 1838-43. I can't see any low risk entries as price action might stick within these ranges.

Same as yesterday, trade is going to be little tricky to pick 30-50 pips at any side and exit.

Comment:

Waiting is the key. As we are in the middle. Wait to 58 or 36 then on return pick the tail. this is how we do when price is at 50%

Wajid Ali,
Any thing can happen. D1 Sma200 is on support. H4 and H1 still in buy signal. Today's fibbo 50% and BB44 mid band at support in H1

And Sma200 in H1 has rejected the price in resistance several times

Wajid Ali,
Breaking and holding either side of point of impact 1848-53 will lead to final destination of the dfay