XAUUSD - KOG REPORT!
03/06/22
KOG Report:
In last weeks KOG Report we said we would remain bearish on Gold and could see a turn being imminent after the range breaks. We suggested traders look at the immediate resistance levels above to target longs level to level and look for a rejection on price to short the market back down with the ultimate target being 1785! What a move we saw on Gold, meeting all our expectations that were not only mentioned in the KOG Report but also throughout the week in the daily briefs.
Furthermore, in Camelot, once we formed approached the low we suggested no more selling and to only look for long trades to carry the move back up into immediate resistance. Pip capture on Gold was well over 800pips through the week trading up level to level and down to complete the move.
So, what can we expect in the week ahead?
We would say the early sessions may give us some ranging price action with an immediate range of 1816 resistance and 1803-6 as support. We’re still not convinced this is the low for Gold so we’re suggesting caution for the early part of the week. We would like to see another tap into the 1780-85 price region and potentially a little lower to form support before we then attempt to go long again! The larger range stands at 1780-1835, these remain the levels that need to be broken and price needs to hold above to determine the next big move. We still have that level of 1865-70 that we feel the price will need to visit so this is a potential target for those who are bullish on Gold. For us, it will simply come down to what we get first to determine the long or short. Up into the extreme high and we’ll look for the short, down into the extreme low and we’ll look for the long. Until then we’ll trade it level to level making the most of what the market is giving us.
We will look at this with an overall view for the week and as always with two scenario’s in mind for the longer move. We update the intraday levels and potential movement so please look out for those charts during the course of the week as well.
Scenario 1:
We open and tap that 1816 region, we want to see a reaction in price here with possible rejection and confirmed resistance. IF we get that, we feel this would be the first opportunity to test the short trade back into the 1810, 1806 and below that 1795 price targets. If we break above the 1816 level the next level above is around 1820 and above that 1826. We want to see the price stay below the 1830-35 price zone to maintain the bearish view for the week. As long as we get the move down, we will be waiting around the 1780-85 and below that 1770-65 price zones to then take the long position to target the 1850 price region.
Scenario 2:
We open and come down straight away to into that 1800-1795 region. Here we will be looking for support to form and if confirmed we feel this level will represent a short-term opportunity to long the market back up into the 1816 and above that 1820-25 price regions. That 1825 level is where we want to see a reaction in price, do we break above and target 1830-35’s liquidity pool or do we get the short to target that potential double bottom left last week on the Daily into the 1790-80 price levels?
Hope this helps in preparation for the week ahead, we will update you as we go along as we usually do. 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
KOG Report:
In last weeks KOG Report we said we would remain bearish on Gold and could see a turn being imminent after the range breaks. We suggested traders look at the immediate resistance levels above to target longs level to level and look for a rejection on price to short the market back down with the ultimate target being 1785! What a move we saw on Gold, meeting all our expectations that were not only mentioned in the KOG Report but also throughout the week in the daily briefs.
Furthermore, in Camelot, once we formed approached the low we suggested no more selling and to only look for long trades to carry the move back up into immediate resistance. Pip capture on Gold was well over 800pips through the week trading up level to level and down to complete the move.
So, what can we expect in the week ahead?
We would say the early sessions may give us some ranging price action with an immediate range of 1816 resistance and 1803-6 as support. We’re still not convinced this is the low for Gold so we’re suggesting caution for the early part of the week. We would like to see another tap into the 1780-85 price region and potentially a little lower to form support before we then attempt to go long again! The larger range stands at 1780-1835, these remain the levels that need to be broken and price needs to hold above to determine the next big move. We still have that level of 1865-70 that we feel the price will need to visit so this is a potential target for those who are bullish on Gold. For us, it will simply come down to what we get first to determine the long or short. Up into the extreme high and we’ll look for the short, down into the extreme low and we’ll look for the long. Until then we’ll trade it level to level making the most of what the market is giving us.
We will look at this with an overall view for the week and as always with two scenario’s in mind for the longer move. We update the intraday levels and potential movement so please look out for those charts during the course of the week as well.
Scenario 1:
We open and tap that 1816 region, we want to see a reaction in price here with possible rejection and confirmed resistance. IF we get that, we feel this would be the first opportunity to test the short trade back into the 1810, 1806 and below that 1795 price targets. If we break above the 1816 level the next level above is around 1820 and above that 1826. We want to see the price stay below the 1830-35 price zone to maintain the bearish view for the week. As long as we get the move down, we will be waiting around the 1780-85 and below that 1770-65 price zones to then take the long position to target the 1850 price region.
Scenario 2:
We open and come down straight away to into that 1800-1795 region. Here we will be looking for support to form and if confirmed we feel this level will represent a short-term opportunity to long the market back up into the 1816 and above that 1820-25 price regions. That 1825 level is where we want to see a reaction in price, do we break above and target 1830-35’s liquidity pool or do we get the short to target that potential double bottom left last week on the Daily into the 1790-80 price levels?
Hope this helps in preparation for the week ahead, we will update you as we go along as we usually do. 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
🔵 FREE TELEGRAM CHANNEL: t.me/KnightsofGold
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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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