I reviewed the monthly/Weekly/Daily charts explaining what is going in on in either case, explaining what we expect from the market and possible continuation on it.
P.S. - First time recording, if any mistakes were made, let me know, thanks and have a good day!
XAU/USD just retest a strong resistence, Cup trading right now, waiting price to retest fib on 50%, go back up a little and going down again, creating a head and shoulders formation.
So, My position is Bearish in the moment. According to FIB, we can see that when it hit the 1 fib, is where we have the resistance and the next support after the 8600 is 8263 (1.272 fib). Maybe we will see 7k?Just an idea