XAUUSD - KOG REPORT UPDATE:

CPI -

This week we've been dealing with a frustrating range which gave us the long into our level on the KOG report and then numerous opportunities to short the market. We did however suggest only scalping as the range wasn't giving us a chance to hold the long term trades, hence today we updated the levels and identified the hotspots for the CPI release. We had the extreme level above and Excalibur activated the long which gave us the move to the upside then enabling us to short back down towards where we are now. All shorts are protected and partials taken now as we're still sticking with the plan on the KOG report to attempt lower pricing.

Key levels are on the chart with 2020 support needing to break aggressively for us to then see the 2010-5 and below that 2003-5 order region which if tapped into may give a tap and bounce.

XAUUSD 10/05/23 1H

Support: 2027 / 2025 / 2021 / 2015 / 2009 / 2005 / 2002

Resistance: 2032 / 2035 / 2037 / 2045 / 2052

Price: 2030

KOG’s Bias for the day:

Bullish above 2004 with targets above 2045

Bearish on break of 2004 with targets below 1975

Summary:

The rest of the week is what the price looks like it’s been waiting for. News today and tomorrow will move it and we’re expecting to break out of this range. Base line support stands at 2002-5 with the bias changed to bullish above 2004 and higher levels are open. We’ve played to the top of the triangle and rejected temporarily; we want to see if the release later can break it.

As always, trade safe.

KOG

Operación cerrada: objetivo alcanzado:

We'll take it here

Operación cerrada: objetivo alcanzado:

Second target completed on this. Anyone holding expect a pullback around here