XAUUSD - KOG REPORT!
KOG Report:
In last week’s KOG Report, we said we could see the price getting ready for another breakout of the range and that we would be sticking with the bearish view on Gold, however, expecting a short bull run at some point. We said to look for the levels of 1730-35 and above that 1745-50 as bullish targets before seeing a reaction in price. We said this region will be tapped into before another decline in price or give a target from the lows. We said 1714 would act as support and if the price remained above this level, we would see the push up into the 1730-35 target and potentially above.
As you can see, we began the week with the support level holding and the push up straight into the 1730-35 level which then gave the reaction in price and gave the opportunity to exit, then reverse the trade for the short way down into our KOG Daily and weekly targets. A phenomenal week for us here at KOG tracking the market level to level, point to point as illustrated in the reports continuously.
Hope traders did well to keep up with the daily analysis as well!
So, what can we expect in the week ahead?
Well, we’ll start by saying we’re going to remain with the plans we’ve been following for most of this year. We’re at a point of the market now where there is likely to be some form of relief rally which will give bulls something to look forward to. We want to position ourselves in Camelot to capitalise on this rally so want to try and catch it from the right levels. We can see more downside ahead and have lower targets so it’s a matter of patience now. For that reason, we’re switching from our long level to level strategy to a short level to level strategy with the view to take longs for the larger captures, as we’ve been doing with the short trades most of this year. The fractal shows we could see some more bearish pressure towards the last week of the month and with FOMC this week we’re likely to see some aggressive movement from Tuesday onwards.
We have the immediate resistance levels above of 1685 and 1695, these price points would represent opportunities to go long in to and then look for a reaction in price. The lower support levels on the 4H chart are indicating a support level slightly below the 1650 level which is also where one of our two lower targets are sitting. As you can see from the 4H chart, we’re in a huge liquidity pool and can expect price to potentially range here and accumulate more orders. The problem with this region is that it can be used to propel the price in either direction, so please try to trade with a strict risk model in place this week.
In summary:
If price doesn’t tap the lows again, we’ll look higher to potentially short this again to go lower targeting below 1650, if price hits the lows first then we’ll look for a reaction in the pool, or slightly below before then taking the long trade.
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 could see the price getting ready for another breakout of the range and that we would be sticking with the bearish view on Gold, however, expecting a short bull run at some point. We said to look for the levels of 1730-35 and above that 1745-50 as bullish targets before seeing a reaction in price. We said this region will be tapped into before another decline in price or give a target from the lows. We said 1714 would act as support and if the price remained above this level, we would see the push up into the 1730-35 target and potentially above.
As you can see, we began the week with the support level holding and the push up straight into the 1730-35 level which then gave the reaction in price and gave the opportunity to exit, then reverse the trade for the short way down into our KOG Daily and weekly targets. A phenomenal week for us here at KOG tracking the market level to level, point to point as illustrated in the reports continuously.
Hope traders did well to keep up with the daily analysis as well!
So, what can we expect in the week ahead?
Well, we’ll start by saying we’re going to remain with the plans we’ve been following for most of this year. We’re at a point of the market now where there is likely to be some form of relief rally which will give bulls something to look forward to. We want to position ourselves in Camelot to capitalise on this rally so want to try and catch it from the right levels. We can see more downside ahead and have lower targets so it’s a matter of patience now. For that reason, we’re switching from our long level to level strategy to a short level to level strategy with the view to take longs for the larger captures, as we’ve been doing with the short trades most of this year. The fractal shows we could see some more bearish pressure towards the last week of the month and with FOMC this week we’re likely to see some aggressive movement from Tuesday onwards.
We have the immediate resistance levels above of 1685 and 1695, these price points would represent opportunities to go long in to and then look for a reaction in price. The lower support levels on the 4H chart are indicating a support level slightly below the 1650 level which is also where one of our two lower targets are sitting. As you can see from the 4H chart, we’re in a huge liquidity pool and can expect price to potentially range here and accumulate more orders. The problem with this region is that it can be used to propel the price in either direction, so please try to trade with a strict risk model in place this week.
In summary:
If price doesn’t tap the lows again, we’ll look higher to potentially short this again to go lower targeting below 1650, if price hits the lows first then we’ll look for a reaction in the pool, or slightly below before then taking the long trade.
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
🔵 FREE TELEGRAM CHANNEL: t.me/KnightsofGold
🔴 TWITTER: twitter.com/knightsofgold2
🟢 INSTAGRAM: instagram.com/knights_of_gold/
🟡 Disclaimer: Not financial advice. For educational purposes only.
🔴 TWITTER: twitter.com/knightsofgold2
🟢 INSTAGRAM: instagram.com/knights_of_gold/
🟡 Disclaimer: Not financial advice. For educational purposes only.
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