XAUUSD - KOG REPORT!
KOG REPORT:
In last weeks KOG Report we stressed we were still bearish on Gold and were looking for the higher levels to short the market. We mentioned we were looking for more bullish movement targeting the higher resistance levels and would be using the lower support regions to go long before then taking our short positions from the higher resistance levels. We were looking for the long targets of 1845, above that 1850-55 and potentially 1860, and the low target of 1810 and below.
We had FOMC during the course of the week which we can see took a lot of traders by surprise, especially those who were looking to long the market from the 1835 and 1820 regions. You can see how we it played out took the price down to hit our 1810 target level. This is why we kept stressing, we will be only taking longs into immediate resistance levels and using the higher resistance levels to take our longer term short positions. This is the benefit of KOGs level to level trading.
So what can we expect in the week ahead?
Again, we’ll start by saying we will remain bearish on Gold for now. We are looking for strong bullish momentum in the early sessions of the week taking the price into the resistance zones of 1806-10, 1824-6 and above that the supply area of 1830-35. These price regions we feel would represent good opportunities to short the market into the lower support zones of 1797, 1785, 1777 and below that 1770. We have a KOG target at the 1770 price point and would like to see this completed at some point over the week. As long as the price stays below the 1830-35 region we will remain with this view and only be taking long trades into immediate resistance levels with our bias being to the down side.
Our plan:
We’re looking for open to break above the 1792 price point and close, this will give us an opportunity to target the resistance levels we have mentioned above. If the price opens and targets the lower support region of 1777-75 before going up we’ll look to use this region to go long into the immediate resistance levels. At each resistance level target we will remove 90% of our exposure in longs and protect the trade, this is just in case the market continues its incline, at least we’ll have a position in at lower levels. We will be looking for strong resistance at the levels mentioned above, this is where we will be waiting to short the market again down towards our KOG target of 1770 first and potentially below that the 1765 price point.
We’ll update you during the course of the week with our usual reviews and analysis, especially if anything changes.
As always, trade safe.
KOG
In last weeks KOG Report we stressed we were still bearish on Gold and were looking for the higher levels to short the market. We mentioned we were looking for more bullish movement targeting the higher resistance levels and would be using the lower support regions to go long before then taking our short positions from the higher resistance levels. We were looking for the long targets of 1845, above that 1850-55 and potentially 1860, and the low target of 1810 and below.
We had FOMC during the course of the week which we can see took a lot of traders by surprise, especially those who were looking to long the market from the 1835 and 1820 regions. You can see how we it played out took the price down to hit our 1810 target level. This is why we kept stressing, we will be only taking longs into immediate resistance levels and using the higher resistance levels to take our longer term short positions. This is the benefit of KOGs level to level trading.
So what can we expect in the week ahead?
Again, we’ll start by saying we will remain bearish on Gold for now. We are looking for strong bullish momentum in the early sessions of the week taking the price into the resistance zones of 1806-10, 1824-6 and above that the supply area of 1830-35. These price regions we feel would represent good opportunities to short the market into the lower support zones of 1797, 1785, 1777 and below that 1770. We have a KOG target at the 1770 price point and would like to see this completed at some point over the week. As long as the price stays below the 1830-35 region we will remain with this view and only be taking long trades into immediate resistance levels with our bias being to the down side.
Our plan:
We’re looking for open to break above the 1792 price point and close, this will give us an opportunity to target the resistance levels we have mentioned above. If the price opens and targets the lower support region of 1777-75 before going up we’ll look to use this region to go long into the immediate resistance levels. At each resistance level target we will remove 90% of our exposure in longs and protect the trade, this is just in case the market continues its incline, at least we’ll have a position in at lower levels. We will be looking for strong resistance at the levels mentioned above, this is where we will be waiting to short the market again down towards our KOG target of 1770 first and potentially below that the 1765 price point.
We’ll update you during the course of the week with our usual reviews and analysis, especially if anything changes.
As always, trade safe.
KOG
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🟡 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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