XAUUSD 4H - Levels

As we originally posted wee were looking at the higher levels of 1805-8 to take the short on Gold. We have scaled in at those levels, however, we can see room for this to go a little higher before we feel it could turn around and target the lower levels. The chart illustrates the levels we are looking at above on the 4H.

We're still playing bearish on this so no long trades at this stage. Breaking and closing above the levels posted and we may change our view.

1820 is a key level here, Gold needs to remain below this level to stay bearish. Breaking this level above and its likely we will see a test on the triple top around 1830-35!

Tomorrow we could see a pullback towards the 1795-97 level, if this level acts as support then its likely we're going higher. Breaking and closing below this level and we can start looking at the lower levels with more clarity.

As always, trade safe.

KOG