Technical analysis of XAUUSD time 30 minutes: 2023-01-21Deltafx Admin 23 January 2023
In the current situation we have 2 harmonic patterns BUTTERFLY – ANTI CYPHER. The resistance area that has formed a red rectangle is very strong due to the overlap of several Fibonacci areas.
also has the large green pattern with it. Now we are in an oscillating area inside the rectangle and the 38.2 CD Fibo correction area in case of a break of the next area 50 Fibonacci is also at the intersection with the pivot point.
The third target has the 61.8 Fibo correction area and intersects with the B area of the smaller harmonic pattern and the bottom of the assumed space.
Each target can play the role of support for the lack of access to other targets and the general trend of gold in the higher fractal.