XAU/USD for Intraday Wednesday 16-11-22 for OANDA:XAUUSD by wajidalikhan2123



Be very careful now picking up an entry. We are at The Wall. Three strikes in one day


Rejection or Breaking it will at least lead to 300 pips


From 1778-83 to 1813 or 1753

fibbo is indicating south again as price is continuously making Higher Highs. I was criticized by a fellow at that I always say “Fibbo indicating south” It is not me who choose the line of action it is the indicator that tells the probability and we should be educated enough to understand that price action is always in zig zag motion. Secondly Fibbo levels are probabilities of SNRs based on what goes up always comes down. So if a level is stretched in fibbo it is to determine that last top/bottom headed towards current top/bottom and now price shall move towards next possible top/bottom. By the help of SMA ( Simple moving average ) we get the trend in the particular Time Frame (EACH TIME FRAME HAS ITS OWN TREND). It takes weeks and months of practice to find an entry when fibbo indicates south and SMAs indicating north or vice versa. Bottom line is trend is your friend, so look for entries according to it.

Today 50% 1770 38.2% 1773 and Sma44 1772 can make a good support for a buy. Let the Sma44 allign with any of these levels to make a good support for buy entry. On the other hand at 0% 1786 is a HRS area.

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