XAUUSD - KOG REPORT UPDATE:

End of day update from us here at KOG:

Its been a great weeks trading so far on Gold and across the markets. As we illustrated and updated yesterday we were looking for the long trade into that 1640-55 region where we then wanted to short the market. We took the short at resistance but have suggested taking partials on the trade and protecting the trade. We are not discounting a retest and potential tap into higher liquidity so lets see how the market closes today. Its FOMC tomorrow, so take it easy, its been a good week so far so don't give anything back to the market. For now, trades are protected and we'll follow the plan.

From Camelot this morning:

XAUUSD 01/11/22 1H

Support: 1639 / 1635 / 1630 / 1624 / 1620 / 1613

Resistance: 1645 / 1654 / 1667 / 1670 / 1675 / 1681

KOGs Bias for the day:

Bearish below 1655 with targets below 1630 and below that 1613

Bullish on break of 1655 with targets above 1665 and above that 1680

Summary:

As we were anticipating in yesterday’s review, we wanted to see Gold grab some liquidity from above in to the 40-45 levels. We can now see it’s stalled a bit with resistance 1650 and support should now form around the 35 price point. Expecting a ranging and choppy day. Level to level please.