Gold Spot / U.S. DollarUpdated XAU/USD INTRADAY MONDAY 23 MAY 2022
According to technical. There are two scenarios that can take place on Monday 23, 2022. As the chart is self explanatory I don't think any explanation is required. H1 TF is under formation of Triple Top or Inverse Head and Shoulder. So keep an eye on price movement do not hurry in entering the market on a sudden move. However Fibbo H1 indicating a decline towards 100% level 1808-13. Range is given because there are two immediate bottoms at 1808 and Lower band of BB44 is at 1813. If a triple bottom activates, I see at least a decline towards 1828-33 38.2%-50.0% level. If the momentum is heavy then we may go below 61.8 to test 1818-23.
Note
1848-53 IS POINT OF IMPACT
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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.