VoxNexus
The candles have been like a roller coaster all day, so I used Fibonacci extension & Fibonacci retracement on the M15 to determine entry points. I entered at 2486 & 2494, with the first TP at 2518.
I'm curious if XAUUSD can body break through 2395.98, thereby changing the chart bias.
Using the Fibonacci extension on the M15 timeframe, the movement of candles can be identified for either long or short positions, adjusted according to the confluence on the left (OB, unmitigated shadow, or FVG).
My idea on M15 XAUUSD, with fib extension I found 3 potential POI's. Let's see where the candles are heading.
It's always fun when you find hidden reasons, why the candles retrace, pullback & you know where's your next POI targets.
In forex trading, saying "HTF is stronger than LTF" means higher timeframes (HTF) are usually more reliable than lower timeframes (LTF). Here's what it means in simpler terms: More Reliable Trends: Trends and patterns on higher timeframes (like H4 or daily charts) are usually more reliable and stable than those on lower timeframes (like m30, m15, m5). Less...
This time I'm using H5 TF and targeting 2 POIs. Which one is yours?
I'm using the H4 timeframe to figure out the POI level. Is this the right time?
I'm using the H5 timeframe to determine the POI for a long position. I estimate it will reach level 182 in the future.
The H4 timeframe shows a bearish engulfing pattern, so it's time for a pullback on M15. I have two POIs this time, which one is yours?
The XAUUSD chart has hit the H4 OB, so it's time for the candle to pull back. I estimate that XAUUSD will reach 2405 before continuing the bullish trend.
I'm using the TF M15 and I think the chart might move towards 2451 before the NFP report comes out.
The estimate for XAUUSD on the 4-hour chart is that it will move to around 2330, with the strongest RBR OB in that area
From the last position, EU was unable to break the H4 OB Drop base drop (DBD) pattern on 1.089-1.091. My estimation the chart will continue the bearish movement with the 1st TP on 1.07 and the next TP is 1.05 if it succeeds in making BOS on the 1.06 level. *dyor
Can you find an interesting relationship between these two Fibonacci levels?"
GBPUSD had HTF strong bearish trend which was confirmed by H4 ChoCh. Now the market has succeeded pullback to 75% Fibo level or 388 level of Fibo extension. My analysis, GU will continue the bearish trend & retest the unmitigated shadow on 24500-25000 level. *disclaimer ON *DYOR