08/03/24
The 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.
For today’s NFP we’re going to keep the chart and idea clean and only look for extreme levels. Our daily bias and weekly bias targets are complete, yesterday we posted a higher level for our team and that was also completed this morning.
So now, we have the following levels in mind:
Resistance levels:
2173-5 and above that 2180-85. These levels we feel if price attacks could give us a reaction in price if rejected and not broken. For that reason, a test on the level is potentially available but we wouldn’t really want to long up into these levels unless we get a very deep pullback!
Support levels:
2150-47 unless broken can take us up into those levels before a reaction, however, with the volume that enters the markets, it can make this a difficult trade. Hence, the levels below 2140-44 can then bring us back into the order region to then start a small range. Below that have 2130, which if attacked is our ideal level for a tap and bounce, but only for the scalp.
Price breaks above the higher resistance, we're not interested and will come back next week.
We’re very likely not going to be trading this event, rather watching and letting the price settle before we decide on our move. It can be volatile and extreme and we need you to understand, if they break above that 2085 level they’re going to complete the structure without any pullbacks. New traders and those less experienced, please stay out of the markets, money in your account is a position in the markets!
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
The 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.
For today’s NFP we’re going to keep the chart and idea clean and only look for extreme levels. Our daily bias and weekly bias targets are complete, yesterday we posted a higher level for our team and that was also completed this morning.
So now, we have the following levels in mind:
Resistance levels:
2173-5 and above that 2180-85. These levels we feel if price attacks could give us a reaction in price if rejected and not broken. For that reason, a test on the level is potentially available but we wouldn’t really want to long up into these levels unless we get a very deep pullback!
Support levels:
2150-47 unless broken can take us up into those levels before a reaction, however, with the volume that enters the markets, it can make this a difficult trade. Hence, the levels below 2140-44 can then bring us back into the order region to then start a small range. Below that have 2130, which if attacked is our ideal level for a tap and bounce, but only for the scalp.
Price breaks above the higher resistance, we're not interested and will come back next week.
We’re very likely not going to be trading this event, rather watching and letting the price settle before we decide on our move. It can be volatile and extreme and we need you to understand, if they break above that 2085 level they’re going to complete the structure without any pullbacks. New traders and those less experienced, please stay out of the markets, money in your account is a position in the markets!
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.
