THE KOG REPORT

Apr 12

THE KOG REPORT:

In last week’s KOG Report we gave the potential range we expected price to play in together with the hot spots and path. We managed to open well, price attacking our hot spot and giving a bounce presenting buyers with an opportunity to capture a phenomenal trade upside into the immediate hot spot above. We then retested, failed the breach, and again we got that long trade into the defence box above which is where price near enough played for the remainder of the week.

We had another fruitful week in Camelot, not only on gold but the indicators performed, LiTE gave us another 100% hit rate and Excalibur worked it’s magic across numerous pairs.

So, what can we expect in the week ahead?

We have a key level of resistance above at the 4755-65 region which needs to hold us down in order to attempt the break of defence and attack the 4720 region for the opening. Below that level we have defence sitting at 4660-40, which is now the key level for bulls to defend in our opinion. If we achieve this level, it’s worth watching for a RIP and potential opportunity to get the long trade upside with the first hurdle above on the flip sitting at 4750 again.

As above, 4640 for us is sticking out at the moment so we’ll use that as the bias level at the moment and say bullish above until we get a clearer indication from market open.

On the flip, we have that defence box above at the 4765 level, which we would like to see broken in order to then give more confidence to long from here initially into the 4804-10 level which will need to be broken convincingly with a strong 4H candle and then flip for us to then target the 4890s and above.

Price is still not as clear as we would like, buying and selling opportunities are available, and while they are we’ll stand with no long term bias to direction and take both. The market is giving, the stops are extended, the moves are huge, entries and risk management are fundamental to staying in the game.

We’ll continue to do what we do with potential for this up and down price range to continue for another week.

RED BOX TARGETS:

BREAK ABOVE 4765 for 4774, 4785, 4790, 4804, 4810 and 4820 in extension of the move
BREAK BELOW 4740 for 4730, 4726, 4720, 4710 and 4695 in extension of the move

KOG’s BIAS FOR THE WEEK:
Bullish above 4640

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

Apr 13

Trade active

Not bad at all