XAUUSD - KOG REPORT!
05/03/23
KOG Report:
In last week’s KOG Report we were expecting the bounce from the support a little lower than what we illustrated but the pattern formed earlier in the week and gave the opportunity to take the long trade into the 1830-35 order region we were anticipating. At this level we were looking for a reaction in price and wanted to ideally take the short trade back down below the 1800 price region.
We did however update the bias and analysis during the course of the week suggesting the bullish view on the break and hold above 1822 and the levels to look for which were 1845 and 1850. We completed the target levels in the last few hours of the week giving us a good capture on the long trades as well as the short in the early part of the week.
So, what can we expect in the week ahead?
We have the higher resistance levels of 1865-75 in mind for the week ahead and the support region of 1840-45 and below that 1830-35 which would give us the potential range for the early part of the week. We would expect this to make some form of retracement during the early part of the week so the immediate resistance levels could be opportunities to short into the order region as the bearish trade. Now, based on the support levels holding, we feel an opportunity to go long would be on the horizon looking initially for the first levels of 1860-65. IF the price does reach those levels we will then decide what to do based on the price action and any formation of patterns at that level.
Bias for the week:
Bullish above 1830-35 with targets above 1860 and above that 1870
Bearish on break and close of 1830 with targets below 1825 and below that 1813.
We will update these during the course of the week based on how the market opens and of course what Excalibur says.
We would like to end by saying we have early indications of another big move to come due to us having targets open and active. This gives us an idea of what price is likely to do, so please make sure you trade responsibly and make sure you have a risk model in place.
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
KOG Report:
In last week’s KOG Report we were expecting the bounce from the support a little lower than what we illustrated but the pattern formed earlier in the week and gave the opportunity to take the long trade into the 1830-35 order region we were anticipating. At this level we were looking for a reaction in price and wanted to ideally take the short trade back down below the 1800 price region.
We did however update the bias and analysis during the course of the week suggesting the bullish view on the break and hold above 1822 and the levels to look for which were 1845 and 1850. We completed the target levels in the last few hours of the week giving us a good capture on the long trades as well as the short in the early part of the week.
So, what can we expect in the week ahead?
We have the higher resistance levels of 1865-75 in mind for the week ahead and the support region of 1840-45 and below that 1830-35 which would give us the potential range for the early part of the week. We would expect this to make some form of retracement during the early part of the week so the immediate resistance levels could be opportunities to short into the order region as the bearish trade. Now, based on the support levels holding, we feel an opportunity to go long would be on the horizon looking initially for the first levels of 1860-65. IF the price does reach those levels we will then decide what to do based on the price action and any formation of patterns at that level.
Bias for the week:
Bullish above 1830-35 with targets above 1860 and above that 1870
Bearish on break and close of 1830 with targets below 1825 and below that 1813.
We will update these during the course of the week based on how the market opens and of course what Excalibur says.
We would like to end by saying we have early indications of another big move to come due to us having targets open and active. This gives us an idea of what price is likely to do, so please make sure you trade responsibly and make sure you have a risk model in place.
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: www.instagram.com/knights_of_gold/
🟡 Disclaimer: Not financial advice. For educational purposes only.
🔴 TWITTER: twitter.com/knightsofgold2
🟢 INSTAGRAM: www.instagram.com/knights_of_gold/
🟡 Disclaimer: Not financial advice. For educational purposes only.
We're now approaching the support levels as suggested in the KOG Report, the structure still looks like it wants lower so make sure any short entries are protected and managed. We will have a look at the reaction in price once levels are targeted.