XAUUSD - KOG REPORT UPDATE:

Quick end of day update:

Yet another day of choppy price action on the PM's with Gold trading out of the smaller range only to break back in and then out again. We shared the levels this morning and said to look for 1825 as the first level as long as the price stayed below the 1834-40 level which was achieved. The 4H range chart showed the support level which gave a small bounce and an opportunity to long. We took 40pips short and missed the long unfortunately which looks like it was short lived anyway. So now we can see price is hugging MA's again with patterns inside patterns awaiting another day of whipsawing price action. We have said trade it level to level, or, trade the highs and the lows, don't get involved in the chop in the middle.

In the remainder of the session look for that wick fill and potential test on the low for a target completion of 1820 price region as a potential, otherwise it looks like it may just range here now until Asia open.


XAUUSD 22/06/22 1H

Support: 1830 / 1825 / 1816 / 1810 / 1806

Resistance: 1832 / 1837 / 1841 / 1846 / 1850

KOGs Bias for the day:

Bearish below 1835-40 with targets below 1825, 1820 and way below that 1790!

Bullish on break of 1840 with targets above 1850 and 1865

Summary:

There’s a of news today that will drive the markets as well as another Powell speech. We have our target below so use the higher levels to trade it down level to level like we’ve shown you. Its very choppy so they won’t let you hold without it going up and down in and out of profits until it hits.