xauusd megaphone

Jun 11, 2022

gold is in megaphone pattern atm. heavy bullish power and left us a strong 4hr candle with no obvious retracement. price closed at the top of the megaphone trendline inside a supply zone which is near a strong resistance. also price is respecting the 4hr .618 fib retracement from the move down from 1917-20. if bulls is present when the week open and break 1978 then we possibly see 1917-20 with fib levels as tps. if price rejects we can target 1830-25 but the down move can also be a retracement for liquidity to upside. Im expecting a move down to at 1860 when the week open if anything