THE KOG REPORT - FOMC
KOG REPORT – FOMC:
This is our view for FOMC tomorrow, please do your own research and analysis to make an informed decision on the markets. It is not recommended you try to trade the event if you have less than 6 months trading experience and have a trusted risk strategy in place. The markets are extremely volatile, and these events can cause aggressive swings in price.
There is a huge possibility this FOMC is already priced in, so we may not see too much movement until the press conference which will be held 30mins after the release. We have a few levels in mind where we will be looking for a reaction in price, however, we would ideally like to wait until tomorrow to see where the daily closes before getting in. Otherwise, it will be a quick scalp on the retracement or pullback of the move.
One thing we need to keep in mind is the NFP movement and where the began the sharp decline and left a void. The structure entails a move up at some point into that 2030-35 region which is the level to watch as well as a target level for any potential long trades. That’s what we will potentially be looking for, and IF we get there, we see a RIP, we’ll be looking to trade this back down for lower pricing.
On the flip, if they take this down, we’re too low to attempt shorting it with the added risk of the void above, so we’ll be looking at the lower level for a RIP, a confirmed set up, and then look to carry the price upside into the order regions highlighted. Fortunately, we have our trusted guide (Excalibur) which we will be monitoring closely for activations in the given direction of our plans.
Levels to watch:
Support – 1978 / 1969 / 1952
Resistance – 1993 / 2006 / 2015
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
This is our view for FOMC tomorrow, please do your own research and analysis to make an informed decision on the markets. It is not recommended you try to trade the event if you have less than 6 months trading experience and have a trusted risk strategy in place. The markets are extremely volatile, and these events can cause aggressive swings in price.
There is a huge possibility this FOMC is already priced in, so we may not see too much movement until the press conference which will be held 30mins after the release. We have a few levels in mind where we will be looking for a reaction in price, however, we would ideally like to wait until tomorrow to see where the daily closes before getting in. Otherwise, it will be a quick scalp on the retracement or pullback of the move.
One thing we need to keep in mind is the NFP movement and where the began the sharp decline and left a void. The structure entails a move up at some point into that 2030-35 region which is the level to watch as well as a target level for any potential long trades. That’s what we will potentially be looking for, and IF we get there, we see a RIP, we’ll be looking to trade this back down for lower pricing.
On the flip, if they take this down, we’re too low to attempt shorting it with the added risk of the void above, so we’ll be looking at the lower level for a RIP, a confirmed set up, and then look to carry the price upside into the order regions highlighted. Fortunately, we have our trusted guide (Excalibur) which we will be monitoring closely for activations in the given direction of our plans.
Levels to watch:
Support – 1978 / 1969 / 1952
Resistance – 1993 / 2006 / 2015
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
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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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