THE KOG REPORT:
In last week’s KOG Report we gave the higher targets 2095 ad above tat 2120 as points of interest and suggested a pull back into the lower support regions would give us the ideal opportunity to long up into those price points before any potential reaction in price. We managed to complete the targets on Monday then leaving giving us the opportunity to switch to level to level trading using the zones and red boxes to target the higher regions until NFP on Friday. This is where we shared the plan to look for the spike into the higher levels 2180-5 where we were expecting the short trade to come from. This worked a treat giving our traders a wonderful capture, not just once, but twice on the retest, finishing off the week not only completing our Gold targets, but also targets across all the other pairs we trade.
So, what can we expect for in the week ahead?
For this week, again we’re going to want to see how the market opens and what structure forms, until then we can only make provisional plans while we’re up at all time highs with limited data. So, for that reason we’ll initially be looking for the price to retest the high during the early sessions with immediate support 2165. As long as that high is not broken, we feel an opportunity is available to short the market back down into the 2165 levels and below that 2150. This is based on a clean set up, as breaking above will lead us up into our higher region of 2210-20 before any reaction in price may present itself.
On the flip, if price does start with a set up for a short, we’ll be looking for 2165 to turn into resistance, and then trading it level to level to the downside looking for the 2150 and below that 2145 price points. If we do get this move to the downside, we need to monitor it carefully as there is a chance of a lower dip into 2035 which is the extension of the move. However, each of these levels can give opportunities for the level to level scalps on the longs if traders wish to test the levels.
We’re still in the early stages of the month and there is a lot of time left for this to keep creating new highs, so please make sure you’re using the extreme levels as the movement, although it looks normal is huge! The market will always give you opportunities, either to get in, get out, or to manage your trades, so please make sure your money and risk management is up to scratch if you’re trading these markets.
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
In last week’s KOG Report we gave the higher targets 2095 ad above tat 2120 as points of interest and suggested a pull back into the lower support regions would give us the ideal opportunity to long up into those price points before any potential reaction in price. We managed to complete the targets on Monday then leaving giving us the opportunity to switch to level to level trading using the zones and red boxes to target the higher regions until NFP on Friday. This is where we shared the plan to look for the spike into the higher levels 2180-5 where we were expecting the short trade to come from. This worked a treat giving our traders a wonderful capture, not just once, but twice on the retest, finishing off the week not only completing our Gold targets, but also targets across all the other pairs we trade.
So, what can we expect for in the week ahead?
For this week, again we’re going to want to see how the market opens and what structure forms, until then we can only make provisional plans while we’re up at all time highs with limited data. So, for that reason we’ll initially be looking for the price to retest the high during the early sessions with immediate support 2165. As long as that high is not broken, we feel an opportunity is available to short the market back down into the 2165 levels and below that 2150. This is based on a clean set up, as breaking above will lead us up into our higher region of 2210-20 before any reaction in price may present itself.
On the flip, if price does start with a set up for a short, we’ll be looking for 2165 to turn into resistance, and then trading it level to level to the downside looking for the 2150 and below that 2145 price points. If we do get this move to the downside, we need to monitor it carefully as there is a chance of a lower dip into 2035 which is the extension of the move. However, each of these levels can give opportunities for the level to level scalps on the longs if traders wish to test the levels.
We’re still in the early stages of the month and there is a lot of time left for this to keep creating new highs, so please make sure you’re using the extreme levels as the movement, although it looks normal is huge! The market will always give you opportunities, either to get in, get out, or to manage your trades, so please make sure your money and risk management is up to scratch if you’re trading these markets.
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
Comment:
Target level 1 Hit, TAP AND BOUNCE as expected.
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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.
