XAUUSD - KOG REPORT! (Weekly)

Weekly chart:

Our weekly chart we have been tracking showing the move followed to the downside and then the bounce into the levels above, which is where we are now. Again, crucial price point for the new weekly candle, we want to see if we get a retest with an extension of the move before a rejection from above. If not, this chart shows the move can start from here or just above so please trade carefully. We’re not trying to catch the top or bottom, it’s a bonus is we do, we are simply just trading this the way we see it.

This chart also shows the importance of the support level below which has been holding numerous times! Break above the resistance and hold above 1830 on this chart and the structure changes for the time being.

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As always, trade safe.

KOG