We sharing something different today as well as the daily update.
A lot of traders are in limbo at the moment wondering where Gold is going next after the decline we’ve witnessed recently. The honest answer to this is we’re in a region at present where we should have seen a technical retracement on price at least up to 1850, however, what they’ve decided to do instead is hold the price in this area and range it over this week giving us a high so far of 1835. We have a lot going on in the news as well as options expiry, so this is potentially the reason the powers that be are holding the price and accumulating orders here. We’re going to share the long-term charts that we have shared in the past with an overall view of Gold and what the possibilities are based on its structure and key levels.
A lot of traders are in limbo at the moment wondering where Gold is going next after the decline we’ve witnessed recently. The honest answer to this is we’re in a region at present where we should have seen a technical retracement on price at least up to 1850, however, what they’ve decided to do instead is hold the price in this area and range it over this week giving us a high so far of 1835. We have a lot going on in the news as well as options expiry, so this is potentially the reason the powers that be are holding the price and accumulating orders here. We’re going to share the long-term charts that we have shared in the past with an overall view of Gold and what the possibilities are based on its structure and key levels.
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Daily update. Again, please do support the channel by hitting the like button 🙏
As we suggested in yesterdays report, 1835 gave the support the market wanted to then get some momentum back up to test that 1850 level. Right now you can see price is trying to break the 1850 level which is a really important test. 1835 support to here has given over 100pips which if you traded it should be enough for the day. Options Expiry so the late US session could be quite volatile.
https://www.tradingview.com/chart/XAUUSD/sjmsHFks-XAUUSD-KOG-REPORT/
The KOG Report has been published. KOG
The KOG Report has been published. KOG
Two of many trades shared in Camelot. We'll be opening again soon