THE KOG REPORT

KOG Report:

In last week’s KOG Report we said we would likely see the week start with ranging movement where if we saw the resistance levels hold above at 2060-65 we felt an opportunity to short the market would be available. We gave the initial level of 2050-55 and then on the break the level of 2030-35 with the weekly bias being bearish below 2075 with target levels 2055 and below that 2037. We suggested this level holding pre-event and then giving an opportunity to go long before NFP, which also worked out well.

During the course of the week, we updated the reports giving the daily bias levels which were all completed, and then the NFP report on Friday. In this report we said if price went down in extension of the move into the 2025-7 and held, we saw an opportunity to long the market back up towards the 2062-5 where we said we may see a RIP and then on the flip short the market back down towards the 2035 level.

The week couldn’t have gone better in all honesty, it was a complete point to point, level to level move again! Planned and traded just like we usually do at KOG. Both KOG Report plans and the NFP idea worked fantastically. Well done to those who followed, not only the plans but the daily and weekly bias targets which were shared for free, which all completed.

So, what can we expect in the week ahead?

For this week we will be looking at a similar plan to last week but we’re expecting a test up towards 2055 and above that 2070-80 level at some point. So, for that reason, if price holds the 2035-30 region in the early sessions of the week we feel an opportunity to long the market back up towards the 2055 and above that 2075-80 region is available. It’s at this level we want to monitor the price as breaking above this level will lead price to gather more momentum and go on to target the 2015-20 price point which we have highlighted on the chart.

On the flip, if we start the week with a test to the upside and that order region holds that price, we feel an opportunity to short the market back down, not only into the 2030 level but below that into the 2010-15 region is on the cards. If there is to be a reaction in price it may well come from the lower level but only temporarily. This is something we need to be cautious of, as price holding these levels can entail a deeper move and attempt at breaking the 2000 level.

KOG’s bias for the week:

Bearish below 2070 with targets below 2030 and below that 2015
Bullish on break of 2070 with targets above 2075 and above that 2085

It’s the first week back with common volume, so please be carful this week as it is likely to be choppy and the price will whipsaw, not only on Gold but most pairs.

As usual we will update the plans throughout the week and also release KOG’s daily bias and levels. Please do follow and keep track of them as they have proved to work extremely well!

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As always, trade safe.

KOG