GOLD

By Gary Kinsley

XAUUSD

, 4 hours

short

#Technical

#Bearish

Range

Resistance 1 2010.0
Quote Price 1993.08
Support 1 1972.87

On the 4 hour chart, we can see that from a risk management perspective, the sellers will have a much better risk to reward setup around the 2015 resistance where we can also find the confluence with the trendline and the 61.8% Fibonacci retracement level. The buyers, on the other hand, will want to see the price breaking higher to invalidate the bearish setup and increase the bullish bets into the 2063 level