XAUUSD high probability setup

21 thg 5, 2023

Gold from a directional perspective shows more bearish trend as it just broke strong key level and shows a reversal as long as it reached the historical strong resistance on the Weekly and Monthly time frames. BUT as we can see on 1H time frame shows and strong impulse to the upside so the price needs to correct. As we all know to measure the impulse we use Fibo golden levels. and it matches perfectly with the entry point of the Long position.

It's not a signal. Use your own plan and DYOR.
Peace.
Ciro Vargas.