XAUUSD 4H - Levels

Quick update on the structure and the 4Hr level to look out for.

We've rejected at the KOG level we suggested for the bullish scenario with a double bottom confirmed at the 1785 level but the price again has come to the range top (please have a look at the range update) where we're seeing a strong rejection again.

We will be looking for the lower support level to see how they hold, the first being the 1800 level and below that the 1797-5 region. As long as the price stays above this level its likely we will see some more bullish movement on Gold. We have plotted in a higher level above 1830 which is around the 1850-60 region. Because of the length of this range and accumulation there is a chance we could see some strong buying pressure if the range breaks to the upside. For that reason we have identified that area as a potential target.

As we've been saying, trade it level to level using the support and resistance levels we have published. Break below 1797-5 and we look to levels below 1785, 1777 and 1770. Holding above the 1795-7 level and we have the levels we've published on the chart.

As always, trade safe.

KOG

Commento:

1800 held, if you've entered stop to entry and take partials