THE KOG REPORT:
In last week’s KOG Report we said we would look for the price to tap into the lower level where we wanted a bounce to then target the red box above. We managed to get that long into the defence level for it to give us a nice tap and bounce again giving the short and following the path into the lower defence box. It’s here that we faced the range but as you can see we failed to breach the box, hence giving us that opportunity to target that long into the active defence above again.
We then mentioned we would protect and manage and see if there is another reaction or breach at that box, leading to price rejecting again following the range and completing all our targets as well as the hot spots for the week.
A successful week in Camelot not only on Gold but also the other pairs we trade and analyse.
So, what can we expect in the week ahead?
For the start of the trading week we have two key levels to keep an eye on, 4175 support and 4210 resistance. These are the levels that need to be broken either side in order to make the next move, and could be the range we play for Monday as there is no economical catalyst to bring the extra volume into the market.
For that reason, we’ll stick with the plan from last week, apart from looking for price to create that higher high before attempting the lower defence level.
There is strong support here on the close so if we can get an undercut low here we can bounce into that 4210 level and above that 4220 which is the level that will need to hold! As long as we can stay below, we should see price attempt the lower levels initially starting with our target level 4180 and below that 4155.
As you can see on our chart, our ideal long opportunity comes from the lower level which is also our potential target and a region we would like to see a RIP!
The levels are on the chart as our the red boxes which have proven to be effective for swing and intra-day trading.
RED BOXES:
Break above 4210 for 4220, 4230, 4235 and 4240 in extension of the move
Break below 4190 for 4180, 4173, 4165, 4155 and 4147 in extension of 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 look for the price to tap into the lower level where we wanted a bounce to then target the red box above. We managed to get that long into the defence level for it to give us a nice tap and bounce again giving the short and following the path into the lower defence box. It’s here that we faced the range but as you can see we failed to breach the box, hence giving us that opportunity to target that long into the active defence above again.
We then mentioned we would protect and manage and see if there is another reaction or breach at that box, leading to price rejecting again following the range and completing all our targets as well as the hot spots for the week.
A successful week in Camelot not only on Gold but also the other pairs we trade and analyse.
So, what can we expect in the week ahead?
For the start of the trading week we have two key levels to keep an eye on, 4175 support and 4210 resistance. These are the levels that need to be broken either side in order to make the next move, and could be the range we play for Monday as there is no economical catalyst to bring the extra volume into the market.
For that reason, we’ll stick with the plan from last week, apart from looking for price to create that higher high before attempting the lower defence level.
There is strong support here on the close so if we can get an undercut low here we can bounce into that 4210 level and above that 4220 which is the level that will need to hold! As long as we can stay below, we should see price attempt the lower levels initially starting with our target level 4180 and below that 4155.
As you can see on our chart, our ideal long opportunity comes from the lower level which is also our potential target and a region we would like to see a RIP!
The levels are on the chart as our the red boxes which have proven to be effective for swing and intra-day trading.
RED BOXES:
Break above 4210 for 4220, 4230, 4235 and 4240 in extension of the move
Break below 4190 for 4180, 4173, 4165, 4155 and 4147 in extension of 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
Trade active
Not a bad start to the week with the higher level holding and an attack on defence which so far has given a bounce! Let's see how we close!🔵 FREE TELEGRAM CHANNEL: t.me/KnightsofGold
🔴 TWITTER: twitter.com/knightsofgold2
🟢 INSTAGRAM: instagram.com/knights_of_gold/
🟡 Disclaimer: Not financial advice. For educational purposes only.
🔴 TWITTER: twitter.com/knightsofgold2
🟢 INSTAGRAM: instagram.com/knights_of_gold/
🟡 Disclaimer: Not financial advice. For educational purposes only.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
🔵 FREE TELEGRAM CHANNEL: t.me/KnightsofGold
🔴 TWITTER: twitter.com/knightsofgold2
🟢 INSTAGRAM: instagram.com/knights_of_gold/
🟡 Disclaimer: Not financial advice. For educational purposes only.
🔴 TWITTER: twitter.com/knightsofgold2
🟢 INSTAGRAM: instagram.com/knights_of_gold/
🟡 Disclaimer: Not financial advice. For educational purposes only.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
