XAUUSD on Fib Extension POV
I'm not trading right now; this is just to show how candles react to those Fib extension levels. If you’ve learned SMC, it’ll help you get a better grasp of market structure, giving you good insight and a clear idea of where the market might go.
Note
As you can see, due to the NFP data release, the candles have already hit the 261.8 Fibonacci level (2501) and made a pullback. If the bearish movement successfully breaks the 2500 level, there is a high probability it will reach the 361.8 - 388 level (unmitigated shadow area).
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