XAUUSD - KOG REPORT UPDATE:

End of day update from us here at KOG:

This morning we gave the bias with bearish below to complete the Excalibur target and also suggested the bounce which would likely take us back up into the 1990-95 region which is where we felt the price would need to be defended. Right now, the short worked extremely well and those who took the long back up into the order region should now start thinking about protecting and taking partials on their trades. Resistance stand here at 1995 and above that the 2003 which will need to hold for bears to take control again. The bearish bias still stands below 2007 but we would now expect the price to settle with the immediate support being 1885 and resistance mentioned above. We're out of trades and will wait to assess the market tomorrow, anyone still in, please use the levels posted.

From Camelot this morning:

XAUUSD 19/04/23 1H

Support: 1977 / 1975 / 1970 / 1962 / 1955 / 1950

Resistance: 1985 / 1994 / 2002 / 2005 / 2018 / 2027

Price: 1977

KOG’s bias for the day:

Bearish below 2007 with targets below 1970

Bullish on break of 2007 with targets above 2020 and above that 2027

Summary:

That level of 2010-12 played its role as resistance combined with the break of structure giving the indication of the potential of the short move coming in the early sessions. Resistance now stands at the 1985-90 level and above that 2001. Would like to see that Excalibur target completed before an attempt of recovery and potential RIP.


As always, trade safe.

KOG

Commentaire:

Typo - Support 1985