FX:XAUUSD   Gold Spot / U.S. Dollar
KOG Report:

In last weeks KOG Report we said we would be looking for the lower support region to hold up the price and felt an opportunity to long the market would be on the cards, first into the 1950-55 order region and above that 1980-85 for the extended move. We then suggested looking for a confirmed set up from the level before attempting to short the market down into the lower levels. As you can see from the previous report, the plan and movement literally moved pip perfect from level to level as suggested last Sunday. The only curve ball we had was NFP which is where we suggested traders stay out of the markets and wait for them to move the price to where they want before attempting to then look for a trade.

All in all, a good week in Camelot with numerous targets being completed across many pairs giving another phenomenal pip capture for the week.

So, what can we expect in the week ahead?

This is going to be a simple KOG Report again with a plan that we’re expecting to adapt and modify during the course of the week. We would ideally like to see how Monday’s early session play out before we decide on what to do for the remainder of the week due to the NFP move on Friday which is looking like it isn’t complete yet. We would say the plan from last week is still in play, but we want to see if this creates the short-term swing before continuing the move downside. For that reason, we would say if price progresses to the downside in the early sessions we will be looking for a base to form and upon a clean support we feel there is an opportunity to long the market back up into the 1955 initially and above that the 1965 level. We’re expecting two levels to give a reaction in price, 1933-37 order region support and 1955-60 order region resistance with breaks either side deciding the next move.

There is long-term support just below and we would like to see bulls try to recover some of the move at least, but what we want to really see is how that higher resistance level is protected. So again, it’s a long from support if we get it and then we’ll look higher to short it again if we see a clean set up.

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