XAUUSD 1H - Entry Levels

Gold has been very unstable this week while consolidating in a tight range. We've sat back for most of Monday waiting for a good entry. This chart was shared in our members area where we identified the 1775 area for a short and also the same area for a potential long trade.

We've taken 70% of that long entry now at the pennant bottom. What we want to see is if this comes down to retest that area below or if this breaks back inside the pennant and resumes the bullish move. We have a higher target of 1810 now and a lower target of 1750 as well as our Excalibur target of 1720, which we want to get another good entry for, this looks like it will come tomorrow unless Powell says something to move the market at 19:00GMT today.

Either way our trades are protected and we've had a good day at KOG.

We'll hope to be back tomorrow with more trade ideas and analysis.