THE KOG REPORT

KOG REPORT

In last week’s KOG Report we said we would be looking for the resistance level 2060-65 to be targeted on open and if held, an opportunity to short the market would be available. We were initially looking for a bigger move down, but the short into immediate support is all we got. We then switched to KOG’s bias of the day and week with a target level give to traders of 2070 and above that 2085. Level to level trading using the red box strategy and the daily bias worked well for us before then posting the update where we said we would be expecting a slight correction into the order region below so to play caution on the long trades. As you can see, just after we posted, the next session began the move down towards the order region closing the week, month, and year.

We’ve had a phenomenal year in Camelot with a hit rate on Gold at 93% and Silver hitting 91%. That’s not to mention the numerous other pairs we trade with an average hit across all at over 90%. We said we would smash 2023 and we sure did!

So, what can we expect in the week ahead?

Firstly, we need traders to understand, it doesn’t matter where the price is going, if your strategy is right, you should be able to trade it wherever it goes. Price action is the key to this, learn it. Doesn’t have to be with us, but there are so many resources available to make the most of your education. This will help you stay in the right direction, but most importantly, understand when you’re wrong and adapt your view. Don’t marry the trade, don’t marry your bias! You will have noticed throughout our time on Tradingview, we’ll go long when the market entails it, and we’ll short it when it needs to be shorted. Moon or ground, we’ll trade it wherever it goes.

Volume is low and neutral at the moment, so potential for some ranging in the first couple of days of the New Year. We have intraday resistance now at the 2065-70 level, and as long as that holds the price below, an opportunity to short the market down into the 2055-50 level could be available. What we want to see here is if they break, which, if they do, we’re likely to hit the lower order region 2030-35 before then an attempt to recover back up for the long trade into 2070 and potentially higher up breaking the 2100 level. This all however depends on a clean reversal from the lower levels 2050, 2045 and in extension 2030!

No flip for this week, we’re only looking for one move and that’s to the downside level to level before attempting that long, as long as we hold.

To be honest, our problem here is the yearly close, although it’s the highest ever, it wasn’t above the level we wanted! So, for the week’s ahead, lets keep an eye on that 2030-35 region and look for a reaction in price around there. Breaking that level, and again, we’re on for more whipsawing and a very choppy start to the year!

KOGs bias for the week:

Bearish below 2075 with targets below 2055 and below that 2037
Bullish on break of 2075 with targets above 2090 and above that 2017

Wishing you all a Happy New Year and a successful year ahead in your trading. Learn to earn, please spend time on your education, it’s like any other profession, it takes time, it takes learning, and it takes practice. The opportunities are endless, how much time you put in is up to you though.

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As always, trade safe.

KOG