THE KOG REPORT - FOMCTHE KOG REPORT – FOMC
This is our view for FOMC, 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.
Our NFP KOG Report worked pretty well apart from it being a Friday and us closing out positions for the weekend only for the move to complete on Monday. For this FOMC we’ll share the levels and potential reaction points on the red boxes as well as the red box target levels. Due to the range, it’s best to wait for the break and also for them to move the price to where they want, then hunt the trade once price has settled.
We have the immediate support level below 3360-55 which if held can push this upside to break the recent high and that 3480-90 level again. Break of that level we have red box region 3330-20 which is where we could get a RIP but that will give us the flip with potential for the order region 3350-55 to turn into resistance unless broken. For that reason, a down move for now could only give scalps for decent captures on tap and bounces.
3320 is the line in the sand, if broken below we’ll get the long from the 3290-95 region which will come next week.
Note, these days it’s only Trump that manages to move the markets aggressively, so this FOMC is most likely already priced in. Not worth attempting the immediate levels so we’ll rather wait for the extreme levels.
RED BOXES INDI LEVELS:
Break above 3395 for 3406, 3410, 3420, 3430 and 3435 in extension of the move
Break below 3375 for 3370, 3366, 3356, 3351 and 3345 in extension of the move
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As always, trade safe.
KOG
