End of day update from us here at KOG:
A few technical issue today resulting in the algo switching off for most of the day, hence we only managed to successfully scalp on the red boxes. Yesterday, as suggested we wanted a move down into the lower order region to again attempt that long trade into the highs, however, as you can see gold didn't present the opportunity completing the Excalibur targets over the Asia session for those who were already in long.
We now sit patiently at a crucial point with support below again at the bias level 2930 which has worked well in giving the bounces for upside movement, but not completing all the higher targets thus far! For that reason, we would say play caution, if we can break above 2940 the path to 2955-60 will be easier! It's also Friday tomorrow and to be honest it's been a decent week on the markets, so please take it easy, if you're going to trade make sure your risk model is up to scratch.
KOG’s bias for the week:
Bullish above 2865 with targets above 2885✅, 2895✅, 2902✅ and above that 2910✅
Bearish on break of 2865 with targets below 2855, 2850, 2843, 2835 and below that 2828
RED BOXES:
Break above 2885 for 2888✅, 2902✅, 2910✅ and 2913✅ in extension of the move
Break below 2875 for 2870, 2865, 2857, 2855 and 2850 in extension of the move
As always, trade safe.
KOG
A few technical issue today resulting in the algo switching off for most of the day, hence we only managed to successfully scalp on the red boxes. Yesterday, as suggested we wanted a move down into the lower order region to again attempt that long trade into the highs, however, as you can see gold didn't present the opportunity completing the Excalibur targets over the Asia session for those who were already in long.
We now sit patiently at a crucial point with support below again at the bias level 2930 which has worked well in giving the bounces for upside movement, but not completing all the higher targets thus far! For that reason, we would say play caution, if we can break above 2940 the path to 2955-60 will be easier! It's also Friday tomorrow and to be honest it's been a decent week on the markets, so please take it easy, if you're going to trade make sure your risk model is up to scratch.
KOG’s bias for the week:
Bullish above 2865 with targets above 2885✅, 2895✅, 2902✅ and above that 2910✅
Bearish on break of 2865 with targets below 2855, 2850, 2843, 2835 and below that 2828
RED BOXES:
Break above 2885 for 2888✅, 2902✅, 2910✅ and 2913✅ in extension of the move
Break below 2875 for 2870, 2865, 2857, 2855 and 2850 in extension of the move
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.
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.
🔵 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.