XAUUSD 1H - Levels - Update
Gold followed the path we chose to the upside missing the first two reaction levels and rejecting at the wedge trend line resistance. This is a good place to protect and short trades as the price still has the hurdle of 1793 to break below if we are to see some more selling pressure.
We have an indication that we could still see another push up to challenge that 1806-10 level at some point so its best to trade with caution.
Above 1793 - We can still resume the bullishness towards the 1806-10+ levels during the US session
Break below 1793 - Can open the doors to the lower levels we've highlighted
The good thing here is that gold is moving nicely giving traders time to make decisions and focus on the immediate levels.
Another day of Jackson Hole today to trade carefully.
We have an indication that we could still see another push up to challenge that 1806-10 level at some point so its best to trade with caution.
Above 1793 - We can still resume the bullishness towards the 1806-10+ levels during the US session
Break below 1793 - Can open the doors to the lower levels we've highlighted
The good thing here is that gold is moving nicely giving traders time to make decisions and focus on the immediate levels.
Another day of Jackson Hole today to trade carefully.
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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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