THE KOG REPORT

KOG REPORT:

In last week’s KOG Report we said we would be looking for the lows in the early part of the week and as long as they held we wanted to see our first target of 2020 completed and above that 2025. We then said we were expecting price to settle below the order region 2030-35 and if held, we felt an opportunity to short the market would be available to traders into the lower levels we had identified. Not only did we get the move up into the target levels, we got a pip to pip, level to level move down with a near perfect exit, only then get the long trade back up into the region where we closed for the long on Friday.

A fantastic week for us again on Gold and the numerous other pairs we trade.

Well done if you followed not only the KOG Report, but the daily analysis shared and KOG’s bias of the day, which all worked out well for us and the traders following.

So, what can we expect in the week ahead?

Please note, this is the last week of the month, so although we may start slow, we’re likely to see some aggressive movement towards the end of the week! Please make sure you’re trading responsibly and make sure your risk model is in place, expect the unexpected!

We have the flip again this week so we’ll be expecting price to target that lower support level of 2030-28 at some point in the sessions ahead. If we see support forming there we feel an opportunity to long the market is available for traders, firstly into the 2040 price point and above that 2045 with extension of the move into 2050. This is where we want to access the price action and movement, as again this week we feel one of these higher levels is going to give a reaction in price that may catch traders out. So for that reason, if we do get a short trade from above, we’ll be looking to hold that trade downside unless that 2055 level breaks!

For now, it’s going to be simple, if support holds we’ll carry it up in to the levels on the chart as shown, and attempt a short from above. We have plotted the range we’re expecting price to play in, with the lower levels of 2010-14 open access if they want to correct the move so please keep this in mind!

Key levels for the week:

Support: 2030 / 2028 / 2025 for further upside movement
Resistance: 2045 / 2050 / 2055

We’ll update traders throughout the week as we usually do. Levels are on the chart, plans are in place. We wish you a successful week ahead on 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