THE KOG REPORT – FOMC
This is our view for FOMC, 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.
A you can see traders the pre-event price action started yesterday with the hourly now playing between the MA’s and waiting for FOMC for a potential breakout. As usual, we have highlighted the key levels and added the red boxes for all of you to help navigate the movement should this not be priced in.
Also remember, there is a press conference after the release, this is usually the time the market will react to anything Powell says about future plans for the economy.
Now, looking at the 4H, we have support at the 3370-65 level and below that 3355. If these are attacked and give a RIP, opportunity for the long trade may be available into the 3395 red box which price will need to break to go higher. If we can break above this red box, we can then look to attempt higher price with the levels 3430, 3445 and above that 3455-60 on the horizon. It’s that red box sitting higher up around the 3470-75 region which needs to be watched if we do get up there as an opportunity to attempt the reverse trade may present itself from there depending on the volume.
So in summary, we have 3 key levels in play, ideally a move upside and rejection from the 3400-6 level giving a further dip would suit buyers to get better pricing.
KOG’s RED BOX TARGETS:
BREAK ABOVE 3395 for 3404, 3406, 3410, 3420, 3430, 3435 and 3459 in extension of the move
BREAK BELOW 3380 FOR 3375, 3364, 3351, 3342, 3333 AND 3327 IN EXTENSION OF THE MOVE
LEARN AND GENERATE YOUR OWN SIGNALS. You don't need any of us to guide you.
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, 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.
A you can see traders the pre-event price action started yesterday with the hourly now playing between the MA’s and waiting for FOMC for a potential breakout. As usual, we have highlighted the key levels and added the red boxes for all of you to help navigate the movement should this not be priced in.
Also remember, there is a press conference after the release, this is usually the time the market will react to anything Powell says about future plans for the economy.
Now, looking at the 4H, we have support at the 3370-65 level and below that 3355. If these are attacked and give a RIP, opportunity for the long trade may be available into the 3395 red box which price will need to break to go higher. If we can break above this red box, we can then look to attempt higher price with the levels 3430, 3445 and above that 3455-60 on the horizon. It’s that red box sitting higher up around the 3470-75 region which needs to be watched if we do get up there as an opportunity to attempt the reverse trade may present itself from there depending on the volume.
So in summary, we have 3 key levels in play, ideally a move upside and rejection from the 3400-6 level giving a further dip would suit buyers to get better pricing.
KOG’s RED BOX TARGETS:
BREAK ABOVE 3395 for 3404, 3406, 3410, 3420, 3430, 3435 and 3459 in extension of the move
BREAK BELOW 3380 FOR 3375, 3364, 3351, 3342, 3333 AND 3327 IN EXTENSION OF THE MOVE
LEARN AND GENERATE YOUR OWN SIGNALS. You don't need any of us to guide you.
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
Trade active
KOG’s RED BOX TARGETS:
BREAK ABOVE 3395 for 3404, 3406, 3410, 3420, 3430, 3435 and 3459 in extension of the move
BREAK BELOW 3380 FOR 3375✅, 3364✅, 3351✅, 3342, 3333 AND 3327 IN EXTENSION OF THE MOVE
Trade closed: target reached
3342 completed as well with a nice trade from the retracement into the hot spot yesterday. Now resistance stands at the 3365-70 region which will need to break to go higher.
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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.