KOG Report:
In last week’s KOG Report, we said we has a range in mind for the week’s sessions prior to FOMC being the 1915-13 region support and the resistance level of 1930-35. We said we would be looking at these levels to either long, or short the market pre-event, before which we wanted to be out of trades ready for the release. We then released the FOMC KOG Report and gave a bearish bias with the levels above we would be looking to short the market from, and the arrows showing the path into the target regions we were looking for.
The market gave the short level 1930-35 early part of the week but only handing out a 60pip move into immediate support before then starting the range. FOMC, however, gave a better result with the price hitting just below the first target level 1920 before a bounce. All in all, a good week in Camelot, not only on gold trades but US30, Oil and NAS to name only a few all giving phenomenal returns to traders.
So, what can we expect in the week ahead?
This structure is looking like it’s coiling now and ready for a breakout so, approaching the end of the month we would suggest caution on the markets with your lot sizes and will stress, please make sure you have a sensible risk model in place.
Looking at Gold, we have immediate support levels 1921 and below that 1918 with extension into 1913-10. These levels need to be defended, and if strong support is found here could represent opportunities to long the market back up into the 1930-35 and above that 1940-45 as illustrated on the chart. Those higher resistance levels with extension into 1955-60 which are the levels to watch. Based on confirmed resistance and a setup arising, these levels could represent opportunities to then short the market back down again.
This week, it’s going to be one of those scenarios again, ranging, and choppy price action, liquidity grabs being likely from lower and higher. It’s simply the case, of managing your risk and testing the levels. We’ll be relying on our red box scalping strategy as well as Excalibur to guide us through choppy waters, so please look out for the daily updates, the bias for intra-day trades and the target levels posted.
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 has a range in mind for the week’s sessions prior to FOMC being the 1915-13 region support and the resistance level of 1930-35. We said we would be looking at these levels to either long, or short the market pre-event, before which we wanted to be out of trades ready for the release. We then released the FOMC KOG Report and gave a bearish bias with the levels above we would be looking to short the market from, and the arrows showing the path into the target regions we were looking for.
The market gave the short level 1930-35 early part of the week but only handing out a 60pip move into immediate support before then starting the range. FOMC, however, gave a better result with the price hitting just below the first target level 1920 before a bounce. All in all, a good week in Camelot, not only on gold trades but US30, Oil and NAS to name only a few all giving phenomenal returns to traders.
So, what can we expect in the week ahead?
This structure is looking like it’s coiling now and ready for a breakout so, approaching the end of the month we would suggest caution on the markets with your lot sizes and will stress, please make sure you have a sensible risk model in place.
Looking at Gold, we have immediate support levels 1921 and below that 1918 with extension into 1913-10. These levels need to be defended, and if strong support is found here could represent opportunities to long the market back up into the 1930-35 and above that 1940-45 as illustrated on the chart. Those higher resistance levels with extension into 1955-60 which are the levels to watch. Based on confirmed resistance and a setup arising, these levels could represent opportunities to then short the market back down again.
This week, it’s going to be one of those scenarios again, ranging, and choppy price action, liquidity grabs being likely from lower and higher. It’s simply the case, of managing your risk and testing the levels. We’ll be relying on our red box scalping strategy as well as Excalibur to guide us through choppy waters, so please look out for the daily updates, the bias for intra-day trades and the target levels posted.
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.
