XAUUSD - KOG REPORT UPDATE:
Quick end of day update from us here at KOG:
Gold looks to have found its range now pre-event and is settling between the immediate support and resistance levels. We've highlighted on the chart what to look for in the remainder of the session if the levels hold! Its worth it if you're scalping but if you're looking to take a long term position we would suggest caution. Expect spikes both ways as the price tries to chop traders in the range while it accumulates.
From Camelot this morning:
XAUUSD 03/08/22 1H
Support: 1760 / 1759 / 1755 / 1752 / 1748 / 1744 / 1735
Resistance: 1766 / 1770 / 1775 / 1780 / 1782 / 1793
KOGs Bias for the day:
Bullish above 1755 with targets above being immediate resistance levels
Bearish on break and close of 1750 with targets below 1735 and below that 1720
Summary:
Resistance stands at 1773 which needs to break for this to go higher. It looks like they’re going to start the pre-event price action so expect some choppy whipsawing moves in tight ranges while they bring the MA’s together. Although the reversal is clean, we still need to break below that 1750 level. Level to level trading
Gold looks to have found its range now pre-event and is settling between the immediate support and resistance levels. We've highlighted on the chart what to look for in the remainder of the session if the levels hold! Its worth it if you're scalping but if you're looking to take a long term position we would suggest caution. Expect spikes both ways as the price tries to chop traders in the range while it accumulates.
From Camelot this morning:
XAUUSD 03/08/22 1H
Support: 1760 / 1759 / 1755 / 1752 / 1748 / 1744 / 1735
Resistance: 1766 / 1770 / 1775 / 1780 / 1782 / 1793
KOGs Bias for the day:
Bullish above 1755 with targets above being immediate resistance levels
Bearish on break and close of 1750 with targets below 1735 and below that 1720
Summary:
Resistance stands at 1773 which needs to break for this to go higher. It looks like they’re going to start the pre-event price action so expect some choppy whipsawing moves in tight ranges while they bring the MA’s together. Although the reversal is clean, we still need to break below that 1750 level. Level to level trading
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🟡 Disclaimer: Not financial advice. For educational purposes only.
🔴 TWITTER: twitter.com/knightsofgold2
🟢 INSTAGRAM: instagram.com/knights_of_gold/
🟡 Disclaimer: Not financial advice. For educational purposes only.
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