Potential pivot point... or? Just some thinking aloud.
Updated
1) Seems like an interesting crossroad here, let's monitor it precisely.
2) Refer my previous idea to grasp an importance of that green line dynamic level that was tested but price failed to fix above it - tradingview.com/chart/XAUUSD/76KMOi7f-Schrödinger-s-trend-and-non-anomalous-anomalies/
3) Dates near March 8th seem pretty much generous for either pivots of global trend or at least end of corrections. In our case we're not in correction, hence not that much options are left if it'll work as the magic date this time.
4) See March 8, 2022 (Tuesday) for comparison; as per last hourly candle for that day we have had a picture closely similar to what we have here now for March 8, Friday, even hit of an important dynamic level was met, and then trend reversed to a downward for more then half a year...
2) Refer my previous idea to grasp an importance of that green line dynamic level that was tested but price failed to fix above it - tradingview.com/chart/XAUUSD/76KMOi7f-Schrödinger-s-trend-and-non-anomalous-anomalies/
3) Dates near March 8th seem pretty much generous for either pivots of global trend or at least end of corrections. In our case we're not in correction, hence not that much options are left if it'll work as the magic date this time.
4) See March 8, 2022 (Tuesday) for comparison; as per last hourly candle for that day we have had a picture closely similar to what we have here now for March 8, Friday, even hit of an important dynamic level was met, and then trend reversed to a downward for more then half a year...
Note
That green dynamic level line seems like a magnet for today ongoing flat movement ))Note
Graceful retrace to the line...
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.