THE KOG REPORTTHE KOG REPORT:
In last week’s KOG Report we said we would be looking for that lower support level of 2420-25 to target, and if it held we felt the opportunity to long into the 2450-55 region and the extension of the move into the 2465-8 price points would be available. We got that move almost to the pip from the open, completing the move in the early part of the week.
During the week we update traders with the short potential trade from the order region, which again completed and then suggested going long again once we saw the structure support 2430-25 form. This move here gave traders the opportunity to target that all time high, completing numerous Excalibur targets along the way. One of which we had highlighted last week on the chart.
So, what can we expect in the week ahead?
For this week we’re going to keep it simple. Due to the lack of data up here we’ll have to modify and adapt as the market continues. We have potential resistance above sitting around 2515-20 and we now have the support level below sitting around the 2480-75 region which could be a potential target level for the retracement of this move, but price needs to hold this level. Breaking below it can correct this whole move to the downside, so if you are going to attempt going long, please make sure the set up is clean, and please, try not to go long up here unless there is that retracement. As you’ve seen, Red boxes help in identifying the key regions and give bounces a majority of the time. If the level is held, we see an opportunity to continue this move back up towards the 2520 and above that 2530 regions with extension of the move into 2540-45. These levels above we’re going to label as order regions but that’s yet to be confirmed.
Nice and easy this week, take your time with the trades, make sure the set up is right and clean. Try not to jump in just because you’ve identified a target, as we’ve said above, they can correct this whole move so lets play defence this week.
KOG’s bias of the week:
Bullish above 2475 with targets above 2510, 2525 and 2540
Bearish on break of 2475 with targets below 2450
As always, we’ll update you during the week.
Look out for:
KOG’s daily bias and targets
Red boxes – Our strategy which is proving to a huge hit with our traders and team
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
Golddirection
GOLD ROUTE MAP UPDATEHey Everyone,
This is an update from the XAUUSD chart idea we shared for this week.
Absolutely smashed !!!!!
We got our retracement into the identified level and then the perfect bounce clearing all our Bullish targets.
Cross and lock above each weighted levels on this idea gave the confirmation for each of our targets, which were hit perfectly.
We are now seeing a break above 2364 with a gap open to 2376. We have already completed this chart idea and due to NFP will not be chasing the bull from the top and will only consider from dips
We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we share every week in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends.
BULLISH TARGETS
2332 - DONE
2339 - DONE
EMA5 CROSS AND LOCK ABOVE 2339 WILL OPEN THE FOLLOWING BULLISH TARGET
2349 - DONE
POTENTIALLY 2354 - DONE
EMA5 CROSS AND LOCK ABOVE 2354 WILL OPEN THE FOLLOWING BULLISH TARGET
2364 - DONE
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it!
Mr Gold
GoldViewFX
Rising wedge on gold chart we can see that gold price is in bullish move from the last pullback at 2278 after breaking the pervious resistance as we can see in the chart price is now forming a rising wedge pattern which its a bearish pattern so expected that after the price finish the ABCE and breaking below the lower line of the pattern a pullback correction to the support level at 2335
Gold Challenges New High - Expecting More Upside Inflation was only keenly felt, especially after the pandemic in April 2021, when the CPI broke above 2% to 4.15%, and then quickly soared to a high of 9% in June 2022.
However, gold has been signaling impending inflation since the year 2000, which was 24 years ago. Currently, gold is also indicating further upside potential over the long term. What will be the implications for inflation and ultimately interest rates down the road?
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GOLD ROUTE MAP & TRADING PLANS FOR THE WEEK AHEADHey Everyone,
Please see our updated 1h chart levels and targets for the coming week.
We have been safely riding the move up last 2 week from dips and then tracking the movement down last week.
We are now seeing price test a weighted support structure 2001 - 1990 with a immediate bullish target open at 2012 and a retracement range target at 1990
However, we would need to see ema5 cross above 2012 level to open the levels 2022 and 2034. Failure to lock above this level will follow with a rejection into support. We will then look for each of the weighted levels to be broken with EMA5 to track the movement in true level to level fashion, up or down.
We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up.
We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we share every week for the past 18 months, you can see how effectively they were used to trade with or against short/mid term swings and trends.
BULLISH TARGETS
2012
EMA5 CROSS AND LOCK ABOVE 2012 WILL OPEN THE FOLLOWING BULLISH TARGET
2022
2034
BEARISH TARGETS
1990
EMA5 CROSS AND LOCK BELOW 1990 WILL OPEN THE SWING RANGE
SWING RANGE
1965
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it!
GoldViewFX
XAUUSD TOP AUTHOR
GoldViewFX - WEEKLY CHART LONG TERM PROJECTION.Hey Everyone,
Please see our weekly chart long term projection that we have been tracking for a while now.
We have been tracking this chart for a while bouncing up and down between support and resistance and also respecting the Goldturn channel (Our unique way to draw channels)
EMA5 and price is now testing the channel bottom, although price broke out of the channel we saw a wick out with a bullish candle finish last week. This is a crucial test, where we will either see a strong bullish movement up from this support or a break and lock with ema5, as its hovering on the channel support. A cross and lock outside of the channel will open the range below, with Goldturns 1894 and 1877 on the horizon.
We will continue with our plans to buy dips using our smaller timeframe analysis, however we will keep in mind the range below, as we manage our long term risk and exposure. If we expose prematurely in a range, we will safely exit and re apply our strategy from the lower range and work our way up using our weighted level breaks on the 1h and 4h charts.
We will continue to track this using our smaller timeframes.
Please don't forget to like, comment and follow to support us, we really appreciate it!
MR GOLD