XAUUSD H4 | Reacting off 50% Fibo?
TitleXAUUSD H4 | Reacting off 50% Fibo?TypeBearish ReversalPreference:Price has just reacted off our pivot point of 1915.48, which serves as an overlap resistance level that aligns with a 50% Fibo retracement. A reversal from this point could lead the price to drop to the 1st support at 1903.843, a support level.Alternative scenario:However, if the price breaks above the pivot, it might rise to the 1st resistance at 1924.324, which serves as an overlap resistance levelTo discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.
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