XAUUSD - KOG REPORT UPDATE:

End of day update from us here at KOG:

Yesterday we suggested that we would be looking for higher, our indicator gave a bullish move above the 1730 and 1745 region into the 1762 price point which was completed earlier. We suggested in earlier posts that we would be looking for a reaction in price at the higher resistance level of 1770-75 but the price fell just short before the decline. This leaves us with a predicament during the Jackson Hole Symposium. The level higher is open so again, above the 1745 region it looks like the price wants higher! We have to say caution though, for some reason our indicator is still flashing short which falls in-line with our plans over the last few months. So trade it level to level and make sure you have a reliable risk strategy in place. Break and close below 1745 and tomorrow could be very interesting!!

In all honesty, tomorrow we will probably not trade and suggest you do the same. Markets will close at a certain price and its very likely they will open with gaps on Sunday, so any open trades could be in trouble. We have a huge range here with the high around 1825-35 and the low all the way down towards 1670, these are all possible over the next few days if anything is said that the market doesn't like.

From Camelot this morning:

XAUUSD 25/08/22 1H

Support: 1755 / 1753 / 1750 / 1735 / 1730

Resistance: 1762 / 1767 / 1770 / 1775

KOGs Bias for the day:

Bullish above 1750 with targets above 1762 and above that 1767

Bearish on the break and close of 1750 with targets below 1720 and below that 1713

Summary:

We were anticipating higher pricing and said to look for support lower to go long. The 1745 level held which propelled the price up into yesterday’s key level of 1762 which is where we are now. Its extended so any further push higher this session could be limited! This isn’t the market to hold recent trades unless their protected. Trade the levels as you see them and move with the market if you need to trade!