End of day update from us here at KOG:
What a day on gold. We wanted this to go higher into the order region to enable us to short it in to the level we wanted following the path. Market glitched, we didn't get the move we wanted, completed all the bearish targets for the week but then....we managed to get a nice long trade from the lows into the resistance level above.
Now 3230 turns into resistance with many traders chasing the gap early session likely holding on to trades. As you can see, the red box broke early session, that was the signal to maintain the move into the levels. So we'll stick with it at the moment as long as that 3255 level holds us down. An undercut low takes us into 3190-5 which is where we may see price hold for CPI tomorrow.
All bearish targets done in one swoop!
KOG’s bias of the week:
Bullish above 3310 with targets above 3335, 3345, 3350, 3350, 3362 and 3370
Bearish below 3310 with targets below 3306✅, 3301✅, 3297✅, 3285✅ and 3274✅
RED BOXES (TAKE NOTE)
Break above 3335 for 3342, 3350, 3354, 3365, 3370. 3373 and 3385 in extension of the move
Break below 3320 for 3310✅, 3306✅, 3298✅, 3293✅, 3285✅ and 3279✅ in extension of the move
As always, trade safe.
KOG
What a day on gold. We wanted this to go higher into the order region to enable us to short it in to the level we wanted following the path. Market glitched, we didn't get the move we wanted, completed all the bearish targets for the week but then....we managed to get a nice long trade from the lows into the resistance level above.
Now 3230 turns into resistance with many traders chasing the gap early session likely holding on to trades. As you can see, the red box broke early session, that was the signal to maintain the move into the levels. So we'll stick with it at the moment as long as that 3255 level holds us down. An undercut low takes us into 3190-5 which is where we may see price hold for CPI tomorrow.
All bearish targets done in one swoop!
KOG’s bias of the week:
Bullish above 3310 with targets above 3335, 3345, 3350, 3350, 3362 and 3370
Bearish below 3310 with targets below 3306✅, 3301✅, 3297✅, 3285✅ and 3274✅
RED BOXES (TAKE NOTE)
Break above 3335 for 3342, 3350, 3354, 3365, 3370. 3373 and 3385 in extension of the move
Break below 3320 for 3310✅, 3306✅, 3298✅, 3293✅, 3285✅ and 3279✅ in extension of the move
As always, trade safe.
KOG
Trade closed: target reached
Path working well so far, upside move complete, rejection for the short which is a short trade for us due to CPi. For now, this is completed.
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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.