XAUUSD 1H - Levels

Quick update for the end of the day.

As we suggested this morning we could see a pullback coming on Gold and suggested not to buy at the higher levels, rather wait for the pullback to the identified levels and then get in long. The movement today based on the 1825 level holding as resistance gave a nice short trade into the identified target level where we got the bounce that we wanted to go long. We would suggest you take partials on any long trades and protect them around here.

What we want to see is whether they break back above that 1825 resistance and then take us back up to complete the move or not. Resistance this evening stands at 1820 and above that 1825. Below 1820 we would suggest caution on longs as this could be continuation of a swing to the downside targeting the 1804-6 level. We'll know in more detail in the morning once the market has opened.

Hope anyone who followed managed to catch some pips.

As always, trade safe.

KOG