XAUUSD - KOG REPORT UPDATE: BOOM!!!

End of week update from us here at KOG:

A fantastic point to point, LEVEL TO LEVEL move on this again based on the KOG Report shared on Sunday. We had identified this range at the beginning of Nov and anticipated potential play in the box then used Excalibur to guide us up and down within the range taking advantage of the movement both on the long and short side.

Well, as you can see that couldn't have gone any better. Up into the top of the range before a reaction in price, which is what we were looking for, down into that lower support region and then the TAP AND BOUNCE giving us the long trade up to where we are now. Over 800pips to be had on this move this week if you followed us combining the morning reviews, KOG's bias for the day and the daily updates.

We're going to call it a week here, all trades should be protected, partials taken and the weekend to be enjoyed.

From Camelot this morning:

XAUUSD 09/12/22 1H

Support: 1785 / 1780 / 1777 / 1775 / 1771 / 1767 / 1760 / 1755 / 1750

Resistance: 1790 / 1786 / 1790 / 1794 / 1797 / 1800 / 1806 / 1810

KOGs Bias for the day:

Bullish above 1780 with targets above 1797 and above that 1800

Bearish on break of 1780 with targets below 1765 and below that 1760

Summary:

We missed the Excalibur target by a few pips so look for support levels to hold below. It’s a good idea to protect trades and take partials level to level along the way in these market conditions as they will keep whipsawing until they make the move. Take GJ as an example, it’s giving numerous entries from below to target the region but still hasn’t hit it. Seeing this tap these lower support regions at some point, so if it goes up first it could be likely this will come back down aggressively so be careful.

We'll be back on Sunday with the KOG Report and our view for the week ahead.

As always, trade safe.

KOG