THE KOG REPORT
Updated
KOG REPORT:
In last week’s KOG Report, we said we would be playing caution on longs where price had closed, and instead would be looking for opportunities to short the market from the given levels and suggested holding any short trades from above. We said we would be looking for them to break below that 2375 region and that would give us opportunities to take this into the order regions below. It’s at these order regions we were expecting RIPs, which that market gave gracefully, allowing us to long back up into the 2350-55 region as we suggested in the report.
A great week on Gold and the numerous other pairs we trade in Camelot, continuing to grow the record-breaking month we’re already having.
So, what can we expect in the week ahead?
We’re going to keep it short this week and it’s the last few days of the month and this month’s candle close again is an important one. We have a big week ahead with the FOMC statement on Wednesday and the NFP on Friday. We can expect a lot of choppy, whipsawing price action, so please make sure to reduce your lot sizes and play defence. We have had a fantastic month so will be doing just that this week, unless the setups are extremely clean.
For that reason, we’re only going to plan for one move this week, that’s for the short to continue into the order region below 2325-30, where traders may get the opportunity to long the market up into the 2350-55 level again, however, this level if tested needs to be monitored, if we can get resistance around here again we may be given another opportunity to short the market again. Price needs to stay below that order region for us to continue with the move down, otherwise we can correct the whole move shown on the chart back up towards the 2390-95 region.
No Bias for the week this week, instead we’ll share the daily bias and take it step by step for the moment, and as usual we’ll update traders throughout the week.
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 playing caution on longs where price had closed, and instead would be looking for opportunities to short the market from the given levels and suggested holding any short trades from above. We said we would be looking for them to break below that 2375 region and that would give us opportunities to take this into the order regions below. It’s at these order regions we were expecting RIPs, which that market gave gracefully, allowing us to long back up into the 2350-55 region as we suggested in the report.
A great week on Gold and the numerous other pairs we trade in Camelot, continuing to grow the record-breaking month we’re already having.
So, what can we expect in the week ahead?
We’re going to keep it short this week and it’s the last few days of the month and this month’s candle close again is an important one. We have a big week ahead with the FOMC statement on Wednesday and the NFP on Friday. We can expect a lot of choppy, whipsawing price action, so please make sure to reduce your lot sizes and play defence. We have had a fantastic month so will be doing just that this week, unless the setups are extremely clean.
For that reason, we’re only going to plan for one move this week, that’s for the short to continue into the order region below 2325-30, where traders may get the opportunity to long the market up into the 2350-55 level again, however, this level if tested needs to be monitored, if we can get resistance around here again we may be given another opportunity to short the market again. Price needs to stay below that order region for us to continue with the move down, otherwise we can correct the whole move shown on the chart back up towards the 2390-95 region.
No Bias for the week this week, instead we’ll share the daily bias and take it step by step for the moment, and as usual we’ll update traders throughout the week.
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
Note
Tap and bounce from support giving a nice long trade early session. Good idea to protect and take partials around here, looking for confirmation now
🔵 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.