XAUUSD - KOG REPORT! (Weekly)Weekly Chart:
Camelot members have been taught how to trade the triangles to the best of probability using KOG zones and level to level trading methods. This chart is very interesting and if it follows what we think its going to do then please look out for the following levels. The 1914-35 region is important for the price to stay below if we’re going to see a resumption of the bearish move and then continue to the overdue KOG target of 1770! Yes, it a long way off but we’re going to keep it in mind knowing that it can take weeks/months to get there if it wants to.
This chart shows the weekly structure with the trend and the Triangle in play. So for coming weeks these are the regions that are important, the 1854 level support where a break and close of this level will see the price then face further declines into the 1835-30 key liquidity region or, a break and close on the weekly of the 1915-35 price region on the weekly candle which will result in more bullish movement in Gold leading to a test of the recent high and potentially further up.
Together with the daily reviews and levels we share please add these levels to your charts so you're aware of what the price can do and what it can achieve.
We’ve had a lot of traders ask us what time frames we use for our analysis, this is the reason we’re sharing the weekly, daily and 4H time frame analysis, so you can see we start with the longer term charts and then work our way down. This is what a lot of analyst will call a top down analysis of the markets, simply starting from the higher time frames and working your way down.
Daily Chart:
We have shared this a few times but this time we’re going to go into a bit more depth. You can see the trend and you can also see the daily levels which have been plotted on the highs and the lows of the chart. What we’re looking for here whether the price comes down first to create the lower highs or if the price goes up first to test the top of the trendline and then comes down to create a lower high. We have to keep in mind and be aware that at some point this structure will be broken, that will either be to the upside or the downside.
KOGs view on that at the moment is its too early to tell, we will use this chart to guide use using the levels and the trend together with Excalibur to make the most of what we’re seeing.
Fore reference only.
As always, trade safe.
KOG
