XAUUSD - SELL IDEA
Looking at the XAU/USD 30-minute chart, we can observe that the price has completed a potential wave (b) and appears to be heading towards a downward correction. This move could be targeting the 1.618 Fibonacci extension of wave (c), with a primary support zone around 2428.34.
The setup indicates a bearish trend continuation, with a strong probability of the price moving lower. This might present a good opportunity to consider short positions, aiming for the support levels indicated by the Fibonacci extensions, particularly focusing on the 1.618 extension level for potential profit targets.
The setup indicates a bearish trend continuation, with a strong probability of the price moving lower. This might present a good opportunity to consider short positions, aiming for the support levels indicated by the Fibonacci extensions, particularly focusing on the 1.618 extension level for potential profit targets.
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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.