XAUUSD 1H - Long Idea!

Due to the low volume in the markets we're not expecting much to happen to the remainder of the session. Illustrated in on the chart is an updated long idea continuing on from what we have published on previous posts. We're expecting the price to come down to the support levels below where we will test the long entry for the higher levels. Please note, this is depending on successful support and the level of 1772-70 holding with the price not closing below it.

We will update you again tomorrow if this doesn't move today.

FOMC on Wednesday, we would advise to trade smaller than usual and protect your trades if you're in the markets. These events can move the markets and don't give traders time to think about managing their positions. Always trade a lot size that allows your to manage your trade now matter what the market throws at you.

As always, trade safe.

KOG

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