THE KOG REPORT - NFP (Are we going higher?)
Updated
The KOG REPORT – NFP
This is our view for NFP, 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.
We’ve done well on Gold so this NFP we’re really not looking for get involved in the play unless we see price approach extreme levels! We’ve managed a long, we’ve managed a short but with this move, it’s likely we’re going to see some stop loss hunt activations and swings in both directions, so please play defence.
We have the immediate resistance levels above 2305-8 which if targeted and held would be the first reaction point we can see on the chart, that’s if the support level 2270-65 manages to hold up the price on the release. Ideally, we want to see that level above break higher and tap into that extreme level above 2230-37 which is where, if we see a decent set up and clean reversal, we feel the opportunity to short the market will come from.
On the flip, looking below, again the support level 2270-65 could be the swoop, and if broken, we will be looking to hold any runners from above down into the 2230-35 region and below that 2220-25 as per the KOG Report on Sunday where, if price is held, supported and we see a clean set up, we feel an opportunity to long the market again is on the cards.
It’s a simple one this time, not going to risk getting into the market for cheap pips with the way they have been behaving lately. Look for the extreme levels or stay away and come back on Monday. Remember, the trade comes after the event!
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 NFP, 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.
We’ve done well on Gold so this NFP we’re really not looking for get involved in the play unless we see price approach extreme levels! We’ve managed a long, we’ve managed a short but with this move, it’s likely we’re going to see some stop loss hunt activations and swings in both directions, so please play defence.
We have the immediate resistance levels above 2305-8 which if targeted and held would be the first reaction point we can see on the chart, that’s if the support level 2270-65 manages to hold up the price on the release. Ideally, we want to see that level above break higher and tap into that extreme level above 2230-37 which is where, if we see a decent set up and clean reversal, we feel the opportunity to short the market will come from.
On the flip, looking below, again the support level 2270-65 could be the swoop, and if broken, we will be looking to hold any runners from above down into the 2230-35 region and below that 2220-25 as per the KOG Report on Sunday where, if price is held, supported and we see a clean set up, we feel an opportunity to long the market again is on the cards.
It’s a simple one this time, not going to risk getting into the market for cheap pips with the way they have been behaving lately. Look for the extreme levels or stay away and come back on Monday. Remember, the trade comes after the event!
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
Note
Nice tap and bounce from support, on the way to the first region. Break above, and we'll complete higher before a RIP.Note
And that's the NFP level completed.
🔵 FREE TELEGRAM CHANNEL: t.me/KnightsofGold
🔴 TWITTER: twitter.com/knightsofgold2
🟢 INSTAGRAM: instagram.com/knights_of_gold/
🟡 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.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.