THE KOG REPORT

Nov 30

THE KOG REPORT:

In last week’s KOG Report we said we would be looking either price to push up into our red box and give us a short, or, price to attempt that 4040 level and bounce, giving us the opportunity to go long. We got in on that long, and then just carried it for most of the week, resulting in not many updates apart from the continued path and a successful week to close.

It was a bit nervy with the ranging, but our hot spots worked well, gave us added confidence and of course the algo performed exceptionally.

A fantastic week in Camelot, not only on Gold but the numerous other pairs we trade and analyse.

So, what can we expect in the week ahead?

Key levels here for the open are 4228 resistance and 4210 support. These are the levels that need to be monitored on the 15min red boxes for the break. A break above and we should see that high on the chart completed and potential for bears to come in and attempt the correction. While that flip is still active, above 4210 there is more upside to be had but the level sticking out to us this week is the 4260-70 region. This is the level that needs to break open and hold for us to go higher.

The issue I have at the moment is our liquidity indicators are suggesting a higher high but once that is made, there is a chance we get a sharp reversal and a clean rejection from one of these resistance levels can lead to a very aggressive decline all the way back down into the low 4000’s again. It’s a new day of a new month so caution is needed, the market may open with gaps, if that’s the case, best not to chase them, let it settle and then look for the set up.

RED BOXES:

Break above 4230 for 4237, 4247, 4250 and 4260 in extension of the move
Break below 4210 for 4199, 4195 and 4165 in extension of the move

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As always, trade safe.

KOG

Dec 1

Trade active

Nice tap and bounce from the level we wanted giving the push up currently at 4260 which is the level we wanted to watch