XAUUSD - KOG REPORT UPDATE:

17 nov 2022

End of day update from us here at KOG:

Finally price moves away from our resistance level now heading towards our first target region which is slightly below. We're sticking with the plan and chart looking for lower so keep an eye on retracements which need to stay below the 1775-80 region. Our only concern at the moment is a liquidity swoop to the upside which may test the high, this is very usual for Gold. Let's see what tomorrow brings, for now its been a great day in Camelot with most targets completing.

From Camelot this morning:

XAUUSD 17/11/22 1H

Support: 1765 / 1755 / 1750 / 1737 / 1735 / 1730

Resistance: 1770 / 1775/ 1778 / 1785 / 1792 /1800 / 1803

KOGs Bias for the day:

Bearish below 1785 with targets below 1755 and below that 1735

Bullish on break of 1785 with targets above 1795 and above that 1800

Summary:

There are likely to be a lot of traders targeting 1800 from support levels so expect volume driven candles over the remainder of the sessions this week. The move to the down could cause a swing to the upside to grab liquidity before then resuming the move again, so be careful with your entries. The targets below still stand and we’ll remain with the plan to target lower.