05/01/21 – FOMC
This is our view for FOMC minutes today, 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’re also approaching the end of the year so markets will likely do the unexpected.
We’re focusing on the 1H chart specifically for this release so please use these levels and ideas along side the KOG report and the other analysis we have share this week.
We have two immediate targets outstanding on Gold for the short term, 1833 and a lower target or 1785. Right now the chart is suggesting a possible swing higher in play with the support level being the 1816-12 region. For that reason we would look for the following scenarios on Gold.
Scenario one:
Bulls:
If the price comes down and we strong rejection around the 1820-16 and below that 1812 price points we would see this as an opportunity to long the market towards the 1830-35 price points as the first target. Breaking above 1835 then look higher towards 1845-50 and if it really wants to stretch out sellers and target the key resistance level then look for 1852-55. These are the levels to target for longs, if you get a good entry from below make sure at each level you take partial profits and move the stop to entry to protect the trade.
Scenario two:
Bears:
If the price pushes higher then try not to enter at the first sign of resistance, if there is something that is going to move the market then its likely they will take it up towards that 1835 level initially and above that potential for 1844-54. This is where we will be waiting to short the market again knowing that they can stretch up towards 1857-60. If you get a good entry from above make sure at each level you take partial profits and move the stop to entry to protect the trade.
If this is to go the way we want then we would like to see this go up first before then starting a decline for the rest of the week.
Please use the levels above as support and resistance as well as the levels we have published on the previous charts.
As always, trade safe.
KOG
This is our view for FOMC minutes today, 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’re also approaching the end of the year so markets will likely do the unexpected.
We’re focusing on the 1H chart specifically for this release so please use these levels and ideas along side the KOG report and the other analysis we have share this week.
We have two immediate targets outstanding on Gold for the short term, 1833 and a lower target or 1785. Right now the chart is suggesting a possible swing higher in play with the support level being the 1816-12 region. For that reason we would look for the following scenarios on Gold.
Scenario one:
Bulls:
If the price comes down and we strong rejection around the 1820-16 and below that 1812 price points we would see this as an opportunity to long the market towards the 1830-35 price points as the first target. Breaking above 1835 then look higher towards 1845-50 and if it really wants to stretch out sellers and target the key resistance level then look for 1852-55. These are the levels to target for longs, if you get a good entry from below make sure at each level you take partial profits and move the stop to entry to protect the trade.
Scenario two:
Bears:
If the price pushes higher then try not to enter at the first sign of resistance, if there is something that is going to move the market then its likely they will take it up towards that 1835 level initially and above that potential for 1844-54. This is where we will be waiting to short the market again knowing that they can stretch up towards 1857-60. If you get a good entry from above make sure at each level you take partial profits and move the stop to entry to protect the trade.
If this is to go the way we want then we would like to see this go up first before then starting a decline for the rest of the week.
Please use the levels above as support and resistance as well as the levels we have published on the previous charts.
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.
