In the 4H time frame, gold is exhibiting a pattern of lower highs (LH) and lower lows (LL). Gold peaked at 2450, and subsequently dropped to a low of 2386.830. By applying Fibonacci retracement from the highest point (2450) to the lowest point (2386.830) within the current 4H time frame, we observe the following:
After reaching the high of 2450.125, gold made a lower low at the Fibonacci 0.786 level (2321.775).
It then rose to form a lower high at the Fibonacci 0.382 level and made another lower low at 2386.830.
Again, it ascended to form a lower high at 2368, which corresponds to the Fibonacci 0.5 level.
Currently, the trend suggests it should form another lower low. I anticipate it may test the 2349 level, which is the Fibonacci 0.618 level, and potentially form a new lower low at the Fibonacci 1.272 level, around 2242.
After reaching the high of 2450.125, gold made a lower low at the Fibonacci 0.786 level (2321.775).
It then rose to form a lower high at the Fibonacci 0.382 level and made another lower low at 2386.830.
Again, it ascended to form a lower high at 2368, which corresponds to the Fibonacci 0.5 level.
Currently, the trend suggests it should form another lower low. I anticipate it may test the 2349 level, which is the Fibonacci 0.618 level, and potentially form a new lower low at the Fibonacci 1.272 level, around 2242.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.