XAUUSD 4H Chart - 16th April
XAU USD Mid Week Update
So a couple of 4 hour short wicks have formed on top of the box that was bracketed out at 2385,
forming a lower high then the previous high, temporarily at least for now.
The bottom of the box 2322 - 2323 has also been respected by last nights long wick candled that briefly touched and bounced back up.
My view on XAU has not changed, I am still holding a short position outlook, do find a brokerage that will provide positive swaps when shorting gold, but the first level of resistance would be at 2322 -2323, and second level at 2300, third at 2194 and our final TP at 2135-2120.
So a couple of 4 hour short wicks have formed on top of the box that was bracketed out at 2385,
forming a lower high then the previous high, temporarily at least for now.
The bottom of the box 2322 - 2323 has also been respected by last nights long wick candled that briefly touched and bounced back up.
My view on XAU has not changed, I am still holding a short position outlook, do find a brokerage that will provide positive swaps when shorting gold, but the first level of resistance would be at 2322 -2323, and second level at 2300, third at 2194 and our final TP at 2135-2120.