CitRoN_RouGe

Fibo 78.6% retracement level resists upward price action

FX_IDC:XAUUSD   Gold / US-Dollar
Going back two years before, we saw the 1050-1370 rally in 2016 which retraced back to 1120 (Fibo 78.6% level) and bounced back upwards. Further, considering the 1370-1120 downward leg, Fib 78.6% level corresponds to 1320_ (where we are now). This level is serving as resistance.
If 1320-1325 band is broken, this will cancel the Fib retracement effect of 1370-1120 fall.
In case the price takes a strong downward reaction from here, I take the formation as a long term "symmetrical converging triangle limited by Fib 78.6%".
DE Deutsch
EN English
EN English (UK)
EN English (IN)
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Startseite Aktien-Screener Devisen-Screener Krypto-Screener Wirtschaftskalender So funktioniert es! Chartmerkmale Hausregeln Moderatoren Webseite & Brokerlösungen Widgets Stock Charting Bibliothek Feature-Anfrage Blog & Nachrichten FAQ - Häufige Fragen & Antworten Hilfe & Wiki Twitter
Profil Profileinstellungen Konto und Abrechnung Meine Support Tickets Support kontaktieren Veröffentlichte Ideen Followers Ich folge Private Nachrichten Chat Abmelden