KOG Report – NFP
This is our view for NFP today, please do your own research and analysis to make an informed decision on the markets. It is not recommended you try to trade the event if you have less than 6 months trading experience and have a trusted risk strategy in place. The markets are extremely volatile and can cause aggressive swings in price.
We’ve had a good run with Gold coming down to another one of our bearish targets which was completed yesterday. If you’re following the KOG reports you will see we’ve been sticking with the plan and still have lower targets that we wish to be completed. Having said that, we were and are expecting a small relief rally at some point, at least back up towards that 1730-35 price point. Whether that be today during NFP or later next week is yet to be seen.
For todays chart we will be as usually concentrating on the key levels rather than the immediate support and resistance levels. We have a bounce from the low which has hit the long target we wanted, however, there is a pool below which is yet unvisited. For that reason we are happy to wait for this move to commence (if they haven’t priced it in already) and, if we get the lower levels first with support confirmed, we feel an opportunity to go long will be available to take this up for a small rally back up above the 1700 level. If however, we move to the upside first, we feel an opportunity to short the market from the higher resistance levels (based on a clean resistance) would be on the table.
Right now, support stands at the 1700-03 level and our bias is to the upside. We don’t have long to complete the move so any downward pressure could be limited.
As we’ve said above, lately the news releases have all been priced in as the markets are reacting instantly to most of the hearsay. This will have to be a surprising number for it to move aggressively so take this report as a guide for now.
Please do support us by hitting the like button, leaving a comment, and giving us a follow. We’ve been doing this for a long time now providing traders with in-depth free analysis on Gold, so your likes and comments are very much appreciated.
As always, trade safe.
KOG
This is our view for NFP today, please do your own research and analysis to make an informed decision on the markets. It is not recommended you try to trade the event if you have less than 6 months trading experience and have a trusted risk strategy in place. The markets are extremely volatile and can cause aggressive swings in price.
We’ve had a good run with Gold coming down to another one of our bearish targets which was completed yesterday. If you’re following the KOG reports you will see we’ve been sticking with the plan and still have lower targets that we wish to be completed. Having said that, we were and are expecting a small relief rally at some point, at least back up towards that 1730-35 price point. Whether that be today during NFP or later next week is yet to be seen.
For todays chart we will be as usually concentrating on the key levels rather than the immediate support and resistance levels. We have a bounce from the low which has hit the long target we wanted, however, there is a pool below which is yet unvisited. For that reason we are happy to wait for this move to commence (if they haven’t priced it in already) and, if we get the lower levels first with support confirmed, we feel an opportunity to go long will be available to take this up for a small rally back up above the 1700 level. If however, we move to the upside first, we feel an opportunity to short the market from the higher resistance levels (based on a clean resistance) would be on the table.
Right now, support stands at the 1700-03 level and our bias is to the upside. We don’t have long to complete the move so any downward pressure could be limited.
As we’ve said above, lately the news releases have all been priced in as the markets are reacting instantly to most of the hearsay. This will have to be a surprising number for it to move aggressively so take this report as a guide for now.
Please do support us by hitting the like button, leaving a comment, and giving us a follow. We’ve been doing this for a long time now providing traders with in-depth free analysis on Gold, so your likes and comments are very much appreciated.
As always, trade safe.
KOG
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🟡 Disclaimer: Not financial advice. For educational purposes only.
🔴 TWITTER: twitter.com/knightsofgold2
🟢 INSTAGRAM: www.instagram.com/knights_of_gold/
🟡 Disclaimer: Not financial advice. For educational purposes only.