XAUUSD 1H - Levels

We're still facing very choppy price action on Gold awaiting a possible breakout of this short-term range. Yesterday we were looking for the 1820-25 level for a rejection, which we achieved. The target area for yesterdays move is still around 1795 so we will stick with our plan unless anything changes.

Today, ideally we would like this to retrace a little up towards the 1810ish level and face resistance. If this happens its likely we will see a similar move to yesterday, this time potentially breaking 1800.

We wouldn't expect a mid-week flush so the lower levels could be good opportunities to take some long positions, as long as support levels hold.

We can see some difficult trading session ahead for traders on most of the markets so it would be a good idea to pick your trades carefully and only trade the best of setups until markets settle.

As always, trade safe.

KOG