So we got the move to the downside that we wanted but Gold broke the immediate support we illustrated and wanted in order to take this back up above 1800. Its still moving in the longer term timeframes roadmap and plan but we need to see this grab that liquidity from above at some point. Therefore, we would say look for reactions in price at the identified levels, below 1790 resistance we’re still on for lower, above 1770 support we’re still on for higher. These two price points could now be the range that will be used pre-event.
From Camelot this morning:
XAUUSD 15/08/22 1H
Support: 1782 / 1772 / 1768 / 1760 / 1759 / 1755
Resistance: 1792 / 1795 / 1797 / 1802 / 1806 / 1810
KOGs Bias for the day:
Aggressive morning moves from Gold breaking the we initially thought would hold for them to take this back up. At the moment its looking like it wants lower so please trade carefully, we have a target which has just been hit, ideally wanted to get in higher for this. Another target lower down, so let’s see how the resistance levels hold.