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Gold Spot / U.S. Dollar
Updated

XAUUSD 4H

530
Price approaching its descending trendline, Since price is in a downtrend making lower lows & highs, a lower high was made & I expect a potential rejection to the 61.8 region for a continuation to the downside for a new lower low to monthly support. Will be watching next week for a break or reversal candle to the zone its currently testing.

Happy trading!
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snapshot price breakout, now watching for a break of the 61.8 for some quick pips tonight
Note
snapshot after last nights trendline false breakout, price rejected off the 61.8 to the downside. Now price is testing the 50 fib level where we could get a rejection to the downside..
Note
snapshot potential H&S Pattern.. thoughts?
Profound_Ambition
bouncebreakGoldlowerlowrejectionSupply and DemandSupply ZoneSupport and ResistanceTrend AnalysisDJ FXCM IndexXAUUSD

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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
bouncebreakGoldlowerlowrejectionSupply and DemandSupply ZoneSupport and ResistanceTrend AnalysisDJ FXCM IndexXAUUSD
Profound_Ambition

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.