XAUUSD - Daily Structure update:

2022年3月8日

We're sharing the daily structure chart again to show you the bigger picture on Gold. As you can see the break of the trend and key resistance level resulted in the price moving into the identified zone, the benefit we had was Excalibur also followed suit and brought us up towards this level. So now we're looking at a reaction around this daily resistance level, a break and close above will result in a test of the ATH high on Gold where there will be a lot of traders waiting to take positions.

We're still expecting a pullback on price so going long up here is not part of our plan. We have indications of a test on of the 2040 price region so will wait patiently if a pullback comes. Until then we'll keep it level to level.

As always, trade safe.

KOG