XAUUSD - End of Month!

29 ต.ค. 2021

Quick update from us for the end of the week and month.

We suggested a long trade at the beginning of the week which went well, we took profits and protected the trade just in case we experienced a end of month sell off as we've seen. The move has now broken below the key resistance levels of 1795 and 1785. We have highlighted on the chart below what we feel is the potential range for the coming sessions next week with targets (this can change depending on how we close today). If we close here today the chart shows this is a potential reversal pattern on the daily time frame. We have a double top on the 4H TF which within it also holds a potential H&S to add to that and we have also just broken out of the trend line, again, we need to wait for the close today to see how this ends.

We have two areas of interest, one below and one above which we feel will be targets for the price on new month opening.

We have attached the 4H chart below which,



We'll be back as usual on Sunday with our KOG report for the week ahead.

Wishing all our followers a great weekend.

KOG