XAUUSD - KOG REPORT!

KOG Report:

I last week’s KOG Report we said we would be looking for a similar setup to the week prior where we wanted to see the low attacked before then seeing the move to upside which was achieved hitting the first level we suggested to short. We then said we wanted to see how the higher levels reacted in order to then come back down into the order region to collect liquidity, which again was nearly achieved just short of 40pips. This is where we wanted to wait for the FOMC Report. We then published the FOMC report mid-week giving the levels for the long trade 2006 and below that 1996 with the bias bullish above, which again, was achieved. In Camelot we had numerous targets above with the highest one being completed.

A decent week again in Camelot not only on Gold but on the numerous other pairs we are analysing, tracking, trading and calling day in, day out.

So, what can we expect for the week ahead?

We have a bank holiday in the UK tomorrow which should really entail low volume and ranging movement, however, if you remember that last one, we still achieved a 250pip on Gold in the early sessions. So, for that reason we will expect the range but anticipate a potential move in the early sessions to clean up some trades and then settle in preparation for the rest of the week.

We have a quiet early part of the week on the economic front with news in the 2nd half which is likely to move the markets so please be careful as there is high probability for them to start accumulating at some point before another breakout. In terms of the charts, we had a double top and Adam and Eve last week which is near complete with an extension into the 1980-1975 price region. We have a 4H reversal in play with a retracement level around the 2030-35 region which was the previous order region. For that reason, we will be expecting a move to target that region at some point and as long as the lower support holds we feel this would represent an opportunity to long the market into that level. Now, if we find resistance there and confirm that support, that’s where we feel there will be a reaction in price, if they push it up! Breaking that level again will then lead to price attempting to test the 2050-55 level where they will again try to test the recent high. On the flip side, breaking that 1995-90 price block and holding below it will entail further selling on Gold.

The path on the chart shows the potential movement we are looking for and what we will be looking to do at each level based on a confirmed RIP and of course Excalibur guiding us. We’re not looking for big trades at the moment due to market conditions so as usual, we’ll keep it level to level the KOG way.

KOG’s bias for the week:

Bullish above 1990-95 with targets above 2020 and above that 2050

Bearish on break of 1995 with targets below 1985 and below that 1975

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

Comentarios:

Numerous opportunities to long into the level and short from it. It isn't however giving the opportunity to hold the trade due to the range that has been established, so scalping only at the moment using the range low for longs and the range high for shorts. Only so many times they will play before the breakout, so please be careful with your lot sizes