FX.co ★ XAU/USD, GOLD

Hello traders, It was fun and volatile yesterday with GOLD, as the confident uptrend continued and we were heading above 4350, but we didn't manage to hold above that level. Personally, I thought we would reach new highs. However, we then witnessed a significant drop or pullback. We even went below 4265, but again failed to hold, essentially resulting in a false breakout. Now, the only way is to move towards new highs. On the other hand, when we broke out of the sideways range to the upside, we still have levels around 4163, 4150 where we might retrace sooner or later. However, the priority remains on the upside, so if we drop below 4280 again, I will buy with a stop loss below yesterday's lows. But if we immediately move above 4381, I will start looking for sell signals.