THE KOG REPORT - NFPTHE KOG REPORT – NFP
This is our view for NFP, please do your own research and analysis to make an informed decision on the markets. It is not recommended you try to trade the event if you have less than 6 months trading experience and have a trusted risk strategy in place. The markets are extremely volatile, and these events can cause aggressive swings in price.
We’ve had an extremely decent week on the markets so please take it easy and remember the trade comes after they have made the move. Let them take it to where they want, wait for the exhaustion, identify the reversal, and then look for the trade. Most likely, the best trades come next week!
We have the breakout we were looking for out of the 2650-55 region which has now flipped. The resistance above is sitting at 2680-85 and above that 2695-2700. This level needs to be watched, a RIP here and we could see this come all the way back down into the order region again 2655-60 with extension of the move. This region for us would represent an opportunity to take the long trade back for the shorter capture.
On the flip, if they take this down during the move, we’ll be looking at the levels below shown on the chart, 2660-55 is a key level, our bias stands at 2645 in extension of the move. These levels may give us opportunities to then long back up if the higher levels are untouched!
Although all our bullish targets completed yesterday, we’ll share the Red box levels below as a guide for the intra-day strategy.
KOG’s Bias for the day:
Bullish above 2645 with targets above 2685, 2694 and 2700
Bearish on break of 2645 with targets below 2635
RED BOXES
Break above 2691 for 2700, 2702, 2710 in extension of the move
Break below 2675 for 2668, 2655 and 2645 in extension of the move
The circled question marks on the chart are our hot spots!
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
