XAUUSD 4H breakout

Gold – 4H accumulation breakout

This is what we’re looking at on the 4H timeframe.

Now if the Dollar does what we think its going to then Gold should follow suit. Pullback towards 1805-02 and a move higher towards 1820 then 1830. This level is key for Gold, bulls can regain control above 1820 and push the price higher.
There is a level of 1865 which we could reach. I see this as an opportunity for the market to get more buyers in only to drop the price again. Our overall target of 1750 and potentially lower still stands as per our previous analysis.

We haven’t held any long positions in Gold, rather finding opportunities to short it wherever we can. We shall continue with that plan for now, Short at strong resistance and only quick captures on Long positions.

This is just an idea, we won’t have a clear picture until market opens and we can analyse the live charts.

As always, trade safe.