XAUUSD - 61% retracement algo play

19 באוק׳ 2017

In current chart You can see 2 last fibonacci retracement on bigger and smaller time. Both took place on important fundamental env. First one took place 2 weeks ago on NFP. 61% was hit and price went into retracement swing up to 38%. Second one is small intraday trend which took place today and again 61% was hit and then after Catalonia annoucement London took heavy buy up to 38%. Both swing took similar behaviour. Lets see if second swing will atchieve 61% retracement pointc which is actually very important range (282) which I was talking about yesterday in my overall view. Use fibonacci tools they can be very helpful when used proper way. Good luck.

20 באוק׳ 2017

הערה

It just kissed 282.14 (61% retr.) which actually didnt closed my yesterday sell (TP is on 281.50). I'm moving my SL to 50% of that swing to get less profit if price will want to reverse and deleting my TP thinking that London will generate more downside.