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Goldath

THE KOG REPORT - UpdateEnd of day update from us here at KOG: Another decent day completing the target we gave you yesterday, and then in Camelot using the red boxes to scalp while targeting that high which is now completed. Now we will say caution on the markets, we can see higher but we don't want to long it up here. We've done enough, let the price settle and let's see where they close. We have support now at the 2645-50 region which if held can then propel us again upside into the level we have circled. DO NOT LONG HERE! Please, do not long with the volume or layer your shorts against the volume. As always, trade safe. KOG
FX:XAUUSD
by KnightsofGold
4
THE KOG REPORTTHE KOG REPORT In last week’s KOG Report we said we were on the flip again so would be looking for price to target that 2030-28 level at some point early week before then looking for an opportunity to long the market into the 2040-45 region with extension into 2050. It was this region we said we would ideally want to hold any short trades down if we got the reaction that we wanted, however, during the move into resistance, we suggested traders trade it level to level as the reaction was controlled and exit at the support level. It was here, after taking the move down, then up and scalping it down again, identifying the perfect opportunity to long, we unfortunately put a risk on longs due to the news release on Friday. So although we did well on Gold, we missed the final move up to where we closed, better to be safe than sorry I guess. So, what can we expect in the week ahead? This week we would say caution on the markets, they’re extreme and stretched with sentiment also approaching extreme levels. We’re a bit high here to even consider going long in the early sessions, so for that reason, we would suggest looking for the price to target the higher order region and looking for a reaction in price, if there is a confirmed set up, we feel an opportunity to short the market into the 2070 and below that 2065 region are available. It is this support region 2060-65 and below that 2055 that need to be monitored, holding above should allow us to get in on the swing into the higher levels firstly 2095 and them above that 2120! What we want to see this week is if the order region 2085-80 becomes a support level for gold for the coming weeks. If so, it’s likely we’re to see higher pricing with the higher target levels not a huge distance away. This is something that can only be monitored on the structure and formations of the market when it opens and settles, otherwise we will need to trade the immediate levels and take it how we see it as we usually do. Simple on this week, on open, look higher for the short trade, if we support below at the intra-day levels, it's a long, if we break, we correct the whole move! KOG’s bias for the week: Bullish above 2065 with targets above 2093, 2095 and above that 2120 Bearish on break of 2065 with targets below 2045 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
FX:XAUUSD
by KnightsofGold
2
Technical analysis update: XAUUSD (14th October 2021)Gold soared after inflation print yesterday. Today it broke above 1800 USD. Currently price is creating setup for inverted head and shoulders pattern which is very bullish development for XAUUSD. We continue to maintain bullish stance on gold and we expect eventual breakout above resistance that lies near 1840 USD pricetag. Our short-term price target of 1850 USD remains unchanged. Same applies to our medium-term price target of 1875 USD and to our long-term price target of 1900 USD. Technical analysis RSI, Stochastic and MACD are very bullish. Gold resumed its bullish trend as is implied by DM+ and DM-. However, trend is very weak at the moment. It is possible that gold will continue to move sideways for little longer before eventual breakout to the upside. We continue to be very bullish on gold and we expect new all time high over next 12 months. RSI: MACD: Stochastic: Support and resistance Short-term resistance appears around 1840 USD. This is very important price level and it coincides with neckline of forming inverted head and shoulders pattern (which would be validated if neckline was penetrated). Another strong resistance lies around 1916 USD. Major resistance sits at all time high of 2075 USD. Short-term support continues to rest at 1750 USD while major support appears near 1676 USD. Disclaimer: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
OANDA:XAUUSDLong
by Tradersweekly
6