KOG Report:
In last week’s KOG Report, we said we would only be looking for support levels in order to go long due to where the price created it’s range and closed the week prior, being too low to attempt a swing short. We were expecting a ranging market and then a push to the upside in order to give us an opportunity to long up and then short it again from the resistance levels above into the 1830-35 region and below that the target region 1810-15. As you can see, price didn’t give us the entry from above, instead, we had to play the range and use the KOG boxes to trade level to level until NFP completing the target level below.
So, what can we expect in the week ahead?
We will be watching the following levels this week for a reaction in price, and based on clean set up, will be looking to either long into the 1840-45 region, or, short this back down again targeting the 1790-5 price region, which we feel may come later in the week. Key level support on the intraday stands at 1820-22, price above here early sessions we feel would represent an opportunity to long the market up into the 1835, 1840 and above that 1845 regions. We have order region 1850-55 psychological level which if held, could represent an opportunity to then attempt the short trade, initially into the 1830-35 price region, where we will need to wait and see what price does.
So, price breaking 1855, an upside attack higher into the 1870’s before a reaction in price, and price breaking below 1820, after rejection of 1835-8 could result on an attack into the 1790-80 price region, before another attempt at recovery.
Important – There is a lot of news over this weekend that can cause gaps on market open as well as a very aggressive opening and early session. Please trade with caution, your lots sizes and risk management are important. Level breaks, support/resistance flips, don’t hold on to hope! The market will always give you an opportunity to get in or get out!
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 only be looking for support levels in order to go long due to where the price created it’s range and closed the week prior, being too low to attempt a swing short. We were expecting a ranging market and then a push to the upside in order to give us an opportunity to long up and then short it again from the resistance levels above into the 1830-35 region and below that the target region 1810-15. As you can see, price didn’t give us the entry from above, instead, we had to play the range and use the KOG boxes to trade level to level until NFP completing the target level below.
So, what can we expect in the week ahead?
We will be watching the following levels this week for a reaction in price, and based on clean set up, will be looking to either long into the 1840-45 region, or, short this back down again targeting the 1790-5 price region, which we feel may come later in the week. Key level support on the intraday stands at 1820-22, price above here early sessions we feel would represent an opportunity to long the market up into the 1835, 1840 and above that 1845 regions. We have order region 1850-55 psychological level which if held, could represent an opportunity to then attempt the short trade, initially into the 1830-35 price region, where we will need to wait and see what price does.
So, price breaking 1855, an upside attack higher into the 1870’s before a reaction in price, and price breaking below 1820, after rejection of 1835-8 could result on an attack into the 1790-80 price region, before another attempt at recovery.
Important – There is a lot of news over this weekend that can cause gaps on market open as well as a very aggressive opening and early session. Please trade with caution, your lots sizes and risk management are important. Level breaks, support/resistance flips, don’t hold on to hope! The market will always give you an opportunity to get in or get out!
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
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🟡 Disclaimer: Not financial advice. For educational purposes only.
🔴 TWITTER: twitter.com/knightsofgold2
🟢 INSTAGRAM: www.instagram.com/knights_of_gold/
🟡 Disclaimer: Not financial advice. For educational purposes only.
