KOG Report:
In last week’s KOG Report, we said we would be expecting more choppy and whipsawing price action with price staying within the range until FOMC at least. We said we would be looking for the levels of 50-55 and 30-35 to go long and the levels of 80-85 and above that 90-95 to go short. The early part of the week gave tremendous opportunities to scalp the market using the KOG boxes with the FOMC report then being published giving the levels to long or short the market from. We managed to get a nice bounce from one of the levels illustrated on the chart giving us a move to the upside where we then closed.
So, what can we expect in the week ahead?
Another frustrating week with choppy price action, whipsawing and ranging is expected until they decide to make the move, which we feel will be a big move for Gold and across the markets. We would suggest you trade this period of the markets with extreme caution, take the best trades with the best set ups, try not to get involved when the price action is not clear.
We again have the higher and lower levels where we will be looking for the long trades, or the short trades. The immediate resistance level stands at 1968-72 with the immediate support the 1950-55 order region. We would expect the price to start the week within this range unless there is a bigger move, so scalping the markets is recommended. The hourly is showing signs of weakness, but price will need to close below that 1950 level to then target the 1940 and below that 1935 levels and potentially lower! So any bounces from the 1955-50 levels in the early sessions could represent opportunities to long the market back up into the higher resistance levels.
Our ideal scenario here is to wait for the early sessions, then either look for the long trade into the higher regions before we decide if we’re going to short it again or not, or, look for the short trade before we decide to long the market. We’re going to remain with our bias for now, but this range is making it difficult to pick a direction, so again, please trade with caution until this breaks out and then starts the move.
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 said we would be expecting more choppy and whipsawing price action with price staying within the range until FOMC at least. We said we would be looking for the levels of 50-55 and 30-35 to go long and the levels of 80-85 and above that 90-95 to go short. The early part of the week gave tremendous opportunities to scalp the market using the KOG boxes with the FOMC report then being published giving the levels to long or short the market from. We managed to get a nice bounce from one of the levels illustrated on the chart giving us a move to the upside where we then closed.
So, what can we expect in the week ahead?
Another frustrating week with choppy price action, whipsawing and ranging is expected until they decide to make the move, which we feel will be a big move for Gold and across the markets. We would suggest you trade this period of the markets with extreme caution, take the best trades with the best set ups, try not to get involved when the price action is not clear.
We again have the higher and lower levels where we will be looking for the long trades, or the short trades. The immediate resistance level stands at 1968-72 with the immediate support the 1950-55 order region. We would expect the price to start the week within this range unless there is a bigger move, so scalping the markets is recommended. The hourly is showing signs of weakness, but price will need to close below that 1950 level to then target the 1940 and below that 1935 levels and potentially lower! So any bounces from the 1955-50 levels in the early sessions could represent opportunities to long the market back up into the higher resistance levels.
Our ideal scenario here is to wait for the early sessions, then either look for the long trade into the higher regions before we decide if we’re going to short it again or not, or, look for the short trade before we decide to long the market. We’re going to remain with our bias for now, but this range is making it difficult to pick a direction, so again, please trade with caution until this breaks out and then starts the move.
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.
