XAUUSD 1D Chart - 21st April
With regards to XAU USD right now the price action for last week has been mainly in a range from, between 2324 to 2420.
On one side the previous top of around 2430 has not broken, the weekly candle on the other hand signals somewhat of bullish strength and I personally would be more comfortable if the price of gold resulted in a drop for the previous week instead, that would solidify my perspective of shorting Gold.
Right now I would still set my stop loss at 2430 and remain the same outlook but maybe more of a neutral element in it as well, might be range trading gold within 2324 to 2420 if hourly candles show resistance at the 2324-2525 levels.
On one side the previous top of around 2430 has not broken, the weekly candle on the other hand signals somewhat of bullish strength and I personally would be more comfortable if the price of gold resulted in a drop for the previous week instead, that would solidify my perspective of shorting Gold.
Right now I would still set my stop loss at 2430 and remain the same outlook but maybe more of a neutral element in it as well, might be range trading gold within 2324 to 2420 if hourly candles show resistance at the 2324-2525 levels.
Comment:
2324-2325 levels typo*
Comment:
TP1: 2200 - 2195
TP2 : 2130- 2125
TP2 : 2130- 2125