{"id":10831,"date":"2020-12-03T10:52:35","date_gmt":"2020-12-03T10:52:35","guid":{"rendered":"https:\/\/tradingshot.com\/?p=10831"},"modified":"2023-05-02T10:54:57","modified_gmt":"2023-05-02T10:54:57","slug":"xauuusd-why-testing-the-4h-ma50-as-support-is-important","status":"publish","type":"post","link":"https:\/\/tradingshot.com\/index.php\/2020\/12\/03\/xauuusd-why-testing-the-4h-ma50-as-support-is-important\/","title":{"rendered":"XAUUUSD Why testing the 4H MA50 as Support is important!"},"content":{"rendered":"

 <\/p>\n

This is a quick update on Gold. The price broke above the 4H MA50 with relative ease and this bullish leg (since November 30) resembles the sequence of October 29 – November 09. That wave, after a pull back to its 0.5 Fibonacci retracement level and the 4H MA50, it found Support and rebounded to the -0.786 Fibonacci extension.<\/p>\n

That extension is at 1905 but I believe we should first keep our eyes on the 4H MA200, which shows a projected contact just above 1860. Why the 4H MA200 is important? Because it last rejected the price on November 15 and excluding the November 04 – 09 rise, which was caused by the U.S. elections, every time since September 03 Gold touched or marginally broke the 4H MA200, it got rejected.<\/p>\n

As a sidenote, see why those sequences are similar even on the 1H time-frame with the formation of the Golden Cross:<\/p>\n

\"snapshot\"<\/a><\/div>\n

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Tradingview link:<\/p>\n

https:\/\/www.tradingview.com\/chart\/XAUUSD\/hiQz7cJL-XAUUUSD-Why-testing-the-4H-MA50-as-Support-is-important<\/a>\/<\/p>\n","protected":false},"excerpt":{"rendered":"

  This is a quick update on Gold. The price broke above the 4H MA50 with relative ease and this bullish leg (since November 30) resembles the sequence of October 29 – November 09. That wave, after a pull back to its 0.5 Fibonacci retracement level and the 4H MA50, it found Support and rebounded<\/p>\n","protected":false},"author":611,"featured_media":10832,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1638],"tags":[],"class_list":["post-10831","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commodities"],"_links":{"self":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/10831","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/users\/611"}],"replies":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/comments?post=10831"}],"version-history":[{"count":3,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/10831\/revisions"}],"predecessor-version":[{"id":10835,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/10831\/revisions\/10835"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/media\/10832"}],"wp:attachment":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/media?parent=10831"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/categories?post=10831"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/tags?post=10831"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}