XAUUSD - KOG REPORT UPDATE:
Quick end of day update from us here at KOG:
As we mentioned earlier we didn't get the pullback into those lower regions that we want in order get better entries for the long trade, instead we used the immediate support levels to get in to target the higher resistance levels where we also had targets waiting for us to complete. We would now suggest caution and say use the levels up and down rather than committing to any direction! We've shown the support levels on the chart but we feel we're too high now to go long so will wait lower or switch direction again as per the KOG reports. The move is complete so now we're going to take it easy, let the markets settle and await NFP on Friday.
From Camelot this morning:
XAUUSD 02/08/22 1H
Support: 1770 / 1768 / 1759 / 1755 / 1752 / 1748 / 1744 / 1735
Resistance: 1770 / 1775 / 1780 / 1782 / 1793
KOGs Bias for the day:
Bullish above 1759 with targets above 1770, 1783 and above that 1795
Bearish on break and close of 1759 with target below 1750 and below that 1744
Summary:
We’re still sitting at the higher resistance level and you can see price trying to break it. We have a couple of targets above now so as long as we’re above the 1759-55 level we’re bullish looking to take this up towards 1800
As we mentioned earlier we didn't get the pullback into those lower regions that we want in order get better entries for the long trade, instead we used the immediate support levels to get in to target the higher resistance levels where we also had targets waiting for us to complete. We would now suggest caution and say use the levels up and down rather than committing to any direction! We've shown the support levels on the chart but we feel we're too high now to go long so will wait lower or switch direction again as per the KOG reports. The move is complete so now we're going to take it easy, let the markets settle and await NFP on Friday.
From Camelot this morning:
XAUUSD 02/08/22 1H
Support: 1770 / 1768 / 1759 / 1755 / 1752 / 1748 / 1744 / 1735
Resistance: 1770 / 1775 / 1780 / 1782 / 1793
KOGs Bias for the day:
Bullish above 1759 with targets above 1770, 1783 and above that 1795
Bearish on break and close of 1759 with target below 1750 and below that 1744
Summary:
We’re still sitting at the higher resistance level and you can see price trying to break it. We have a couple of targets above now so as long as we’re above the 1759-55 level we’re bullish looking to take this up towards 1800
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🔴 TWITTER: twitter.com/knightsofgold2
🟢 INSTAGRAM: instagram.com/knights_of_gold/
🟡 Disclaimer: Not financial advice. For educational purposes only.
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