Dear Traders all around the world!
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Today we're crystallizing out important levels for XAU/USD, as further development could lead to decent R/R setups.
As highlighted in the left chart, we have two main similarities. Our current swing-move is mirrored to the first highlighted one. We're applying a Fibonacci with different retracement & extension levels. Most importantly, we have to gain control of EQ in order to raid our high and engineer liquidity above. Our -0.27 extension perfectly matches with a "clean high" at $1332.80, which could be a crucial zone for XAU/USD. In order to continue our uptrend, we have to daily close above $1314.50 - $1315.18.
Looking at the bigger picture, it's crucial that we close our weekly candle above $1314.43. If we manage to do that, I'm targetting EQ at $1334.39. As you notice, both daily and weekly chart speak for the same things but deliver different/more confluence along with confirmation methods.
Crucial zone: $1332 - $1334
You want to get accurate calls and not miss any of these potential setups? At 25 likes I'll update this analysis on a regular basis and give you exact position details!
If you want to support me, feel free to like & follow or even leave a comment! I'm always interested in your opinion.
Today we're crystallizing out important levels for XAU/USD, as further development could lead to decent R/R setups.
As highlighted in the left chart, we have two main similarities. Our current swing-move is mirrored to the first highlighted one. We're applying a Fibonacci with different retracement & extension levels. Most importantly, we have to gain control of EQ in order to raid our high and engineer liquidity above. Our -0.27 extension perfectly matches with a "clean high" at $1332.80, which could be a crucial zone for XAU/USD. In order to continue our uptrend, we have to daily close above $1314.50 - $1315.18.
Looking at the bigger picture, it's crucial that we close our weekly candle above $1314.43. If we manage to do that, I'm targetting EQ at $1334.39. As you notice, both daily and weekly chart speak for the same things but deliver different/more confluence along with confirmation methods.
Crucial zone: $1332 - $1334
You want to get accurate calls and not miss any of these potential setups? At 25 likes I'll update this analysis on a regular basis and give you exact position details!