XAUUSD - Daily Structure update: End of Day
We're going to use this chart again with the road map that has brought us up to this level here. We're going to end the day with what to look for in the remainder of the session and for the Asia Session in the morning!
We've shorted it and longed it all the way up to here, ALL our Excalibur targets above are now complete with the last being hit around an hour ago. Those that trade W and M patterns will also notice the W pattern is complete now. Anyone looking to short this, its probably best to wait until tomorrow, we want to see where the daily closes. Its stretched sellers up to here and if it breaks this level then the next level above is a new ATH above 2100!!
We have a really weak indication from Excalibur that the high is going to be tested, which makes sense as if this is the intermittent high then we don't want to leave wicks here on the daily and the weekly chart. So we will look for support around the 2020-15 price point and based on strong support we feel this will go back up to test that and potentially fill the void! If we break below the 1995 level then we will be looking for this to test the breakout which is sitting around the 1960 level.
This is just an overall view of what to look for, we'll share our usual levels and charts tomorrow in a bit more detail.
As always, trade safe.
KOG
We've shorted it and longed it all the way up to here, ALL our Excalibur targets above are now complete with the last being hit around an hour ago. Those that trade W and M patterns will also notice the W pattern is complete now. Anyone looking to short this, its probably best to wait until tomorrow, we want to see where the daily closes. Its stretched sellers up to here and if it breaks this level then the next level above is a new ATH above 2100!!
We have a really weak indication from Excalibur that the high is going to be tested, which makes sense as if this is the intermittent high then we don't want to leave wicks here on the daily and the weekly chart. So we will look for support around the 2020-15 price point and based on strong support we feel this will go back up to test that and potentially fill the void! If we break below the 1995 level then we will be looking for this to test the breakout which is sitting around the 1960 level.
This is just an overall view of what to look for, we'll share our usual levels and charts tomorrow in a bit more detail.
As always, trade safe.
KOG
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🟡 Disclaimer: Not financial advice. For educational purposes only.
🔴 TWITTER: twitter.com/knightsofgold2
🟢 INSTAGRAM: instagram.com/knights_of_gold/
🟡 Disclaimer: Not financial advice. For educational purposes only.
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