pullback on the chanel 4h
Now we can see the immediate resistance levels and the immediate support levels below starting at 1835 and below that 1823. What we want to ideally see here is a retest of that 1850 level or a slight push above it and monitor the close. Right now we look like we're closing under the 1850 level which still aids caution as support targets below may not hold the price.
Tomorrow is going to be telling, the ideal scenario here for us is for the price to hold support below giving the opportunity to long the market back up towards the 1850 and above that 1865 price points before facing resistance. Resistance there and we may just look to short it back down into the low 1800s.
As we suggested, while the market is like this and with options expiry looming, we're trading this level to level using Excalibur to guide us. So this area above now is pivotal for Gold , 1850-65, will we close above it on the weekly and daily or not?! Tomorrow is going to be an interesting day on the markets.
As always, trade safe.
Now we can see the immediate resistance levels and the immediate support levels below starting at 1835 and below that 1823. What we want to ideally see here is a retest of that 1850 level or a slight push above it and monitor the close. Right now we look like we're closing under the 1850 level which still aids caution as support targets below may not hold the price.
Tomorrow is going to be telling, the ideal scenario here for us is for the price to hold support below giving the opportunity to long the market back up towards the 1850 and above that 1865 price points before facing resistance. Resistance there and we may just look to short it back down into the low 1800s.
As we suggested, while the market is like this and with options expiry looming, we're trading this level to level using Excalibur to guide us. So this area above now is pivotal for Gold , 1850-65, will we close above it on the weekly and daily or not?! Tomorrow is going to be an interesting day on the markets.
As always, trade safe.