THE KOG REPORT

6 thg 10

THE KOG REPORT

In last week’s KOG Report we said we would be looking for price push down in to the lower support level where we would exit short positions and then look again to go long from that precise level. We managed to capture the trade following Excalibur and the Red boxes giving us a perfect level tap and bounce for the long into the higher red box defence region.

We then published the NFP report again with a similar idea, looking for that order region to be attempted, which it did, again giving the long trade level to level on the red boxes.

As fantastic week again on the markets, not only on Gold but the numerous other pairs we trade hitting another 32 targets, phenomenal performance.

So, what can we expect in the week ahead?

For this week we’re going to be expecting thin volume during the early part of the week so there is potential for price to play this same range, giving spikes into the higher resistance and lower support levels. So, to start the week we will be looking at reaction points of 2640-45 as support, which if held we feel should push price upside to attempt to break that 2670 region again. It’s this region which was the bearish bias level and held price last week, so unless broken above, the range continues with support 2650-45 and resistance 2670. For that reason, we can only play the range on the scalps looking for the breaks either side before then attempting to take a longer-term trade. While in the range we don’t want to trade mid-range, and we for sure do not want to get our traders stuck in the whipsaw.

This is going to be a bit of a controversial report this week but we sense there is a curveball on the way and that can force the price to make a deeper correction than many traders expect. So, if we hold support and manage to break upside, we’ll be looking at that 2670 and above that 2675 regions as potential targets and also for the possible RIPs. If rejected at that level there is a chance we can correct the move all the way back down into the 2625-30 region and below that 2610-15, before then getting that long trade again.

Now, the key point here on this weeks report! Breaking below that 2625 level will lead this to drop further so please be careful. Levels below 2610 and below that 2603 are open for price to attempt.

KOG’s Bias for the week:

Bullish above 2645 with targets above 2670, 2675 and above that 2683
Bearish on break of 2645 with targets below 2635 and below that 2612

Look out for KOG’s bias of the day, KOG’s red boxes and the indicator levels which are published daily for the wider community.

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

7 thg 10

Giao dịch đang hoạt động

Red box defence worked well early session giving the push upside. Traders should be protected and partials taken

8 thg 10

Đóng lệnh: đạt mục tiêu

KOG's bias targets for the week, bearish below completed here