Get started

Knightsofgold

THE KOG REPORT KOG REPORT In last week’s KOG Report we said we would be looking for the resistance level 2060-65 to be targeted on open and if held, an opportunity to short the market would be available. We were initially looking for a bigger move down, but the short into immediate support is all we got. We then switched to KOG’s bias of the day and week with a target level give to traders of 2070 and above that 2085. Level to level trading using the red box strategy and the daily bias worked well for us before then posting the update where we said we would be expecting a slight correction into the order region below so to play caution on the long trades. As you can see, just after we posted, the next session began the move down towards the order region closing the week, month, and year. We’ve had a phenomenal year in Camelot with a hit rate on Gold at 93% and Silver hitting 91%. That’s not to mention the numerous other pairs we trade with an average hit across all at over 90%. We said we would smash 2023 and we sure did! So, what can we expect in the week ahead? Firstly, we need traders to understand, it doesn’t matter where the price is going, if your strategy is right, you should be able to trade it wherever it goes. Price action is the key to this, learn it. Doesn’t have to be with us, but there are so many resources available to make the most of your education. This will help you stay in the right direction, but most importantly, understand when you’re wrong and adapt your view. Don’t marry the trade, don’t marry your bias! You will have noticed throughout our time on Tradingview, we’ll go long when the market entails it, and we’ll short it when it needs to be shorted. Moon or ground, we’ll trade it wherever it goes. Volume is low and neutral at the moment, so potential for some ranging in the first couple of days of the New Year. We have intraday resistance now at the 2065-70 level, and as long as that holds the price below, an opportunity to short the market down into the 2055-50 level could be available. What we want to see here is if they break, which, if they do, we’re likely to hit the lower order region 2030-35 before then an attempt to recover back up for the long trade into 2070 and potentially higher up breaking the 2100 level. This all however depends on a clean reversal from the lower levels 2050, 2045 and in extension 2030! No flip for this week, we’re only looking for one move and that’s to the downside level to level before attempting that long, as long as we hold. To be honest, our problem here is the yearly close, although it’s the highest ever, it wasn’t above the level we wanted! So, for the week’s ahead, lets keep an eye on that 2030-35 region and look for a reaction in price around there. Breaking that level, and again, we’re on for more whipsawing and a very choppy start to the year! KOGs bias for the week: Bearish below 2075 with targets below 2055 and below that 2037 Bullish on break of 2075 with targets above 2090 and above that 2017 Wishing you all a Happy New Year and a successful year ahead in your trading. Learn to earn, please spend time on your education, it’s like any other profession, it takes time, it takes learning, and it takes practice. The opportunities are endless, how much time you put in is up to you though. 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
12
THE KOG REPORTKOG REPORT: In last weeks KOG Report we suggested that if price began with a decline and stayed above the 1920-23 price region, we felt an opportunity to long would be available, based on strong support. We gave the levels above as 1950-55 and above that 1965 and 1970 as the target levels to aim for and then added the daily bias levels. We gave the weekly bias level high at 1995 which was short by a few pips and managed to complete all the daily bias levels given to traders. Well done to those who followed and managed to get something out of the markets, not only on Gold, but the numerous other pairs we trade and share. So, what can we expect in the week ahead? Again, this is going to be a difficult week for traders to navigate and stay ahead of, so please make sure you have a risk model in place as one big move in the opposite direction can really cause traders problems. We can see there being potential for higher pricing, but what we want to see again this week is how low to they attempt to take it while staying above the order region. We have the levels below as key support regions 1970-65 and below that 1950-55, which price needs to stay above in order to target and potentially break above the 2000 barrier. So, for that reason, we will be looking for a similar scenario to last week. If we see price attempt the lower support regions 1970-65 and below that 1950-55, we feel an opportunity to long the market up into the 1995 and above that 2003 levels could be available to traders. It’s at these price points that we want to monitor price action and look for signs of a RIP. If we struggle around the 2006-10 region with extension into 2015-17, we will be looking to short the market back down with an open take profit. On the flip, continuing upside from the get-go, we will be looking to trade level to level into the regions we’ve mentioned above, before then looking for the short trade back down initially into the 1965-70 region and then hopefully further down. KOGs bias for the week: Bullish above 1965 with targets above 1995 and above that 2003 Bearish on the break of 1965 with targets below 1955 and below that 1943 This gives us a potential range 1935-2010 for the week ahead. 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
THE KOG REPORTKOG Report: In last week’s KOG Report, we said we would be looking for price to attempt the high before finding resistance and then we would be looking to short the market. Initially targeting the 1980 level, and upon the break, we would have more confidence in lower pricing. We had the path showing the 1950-55 level and gave the extension levels of 1947-5 as the potential RIP zone. Price followed the path nearly to the pip each way giving us a level to level, point to point move on Gold, not only the short down, but the bounce giving us a scalp capture to the upside where we wanted 1970 but got 1964. During the week, we gave KOG’s bias of the day with the levels and activation of bearish below, completing all the bias levels and targets given. A great week of targets completing not only on Gold and the other instruments we trade, but Silver being the star of the show finishing off the week. So, what can we expect in the week ahead? Another choppy week is likely with whipsawing price action and swings in both directions. We’re at a crucial price point in Gold having broken the order region which is now on the flip. This structure, however, does complete in extension into the 1920-23 price region. This price point is important for Gold to stay above, as a close below here will lead us to lower pricing. This gives us the weekly resistance level now standing at 1950-55 order region which will be a crucial test and potential opportunity for any long trades. This is the price point we want to monitor with further resistance levels 1965 and above that 1970. From opening and in the early sessions, if we see price attempt the lower support regions, upon holding and strong support, with a clear set up, we feel an opportunity to long into the higher levels 1950-55 and above that 1965 are reasonable. We’re too low here to short the market, so opportunities may come from higher up if gold wants to play nicely. For that reason, if we do push up during the early part of the week, we’ll target the long trades from the intraday support levels and Excalibur guiding us before looking for resistance to hold above, and then attempting the short trade back down to break the 1930 level. The path is shown on the chart together with the levels we’re looking at. KOG’s Bias for the week: Bearish below 1965-70 with targets below 1910 Bullish on break of 1970 with targets above 1985 and above that 1995 This gives us the potential range 1910-1985 for the week ahead. 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
18
THE KOG REPORT UPDATE:End of day update from us here at KOG: We've seen price come down from 1990 this week straight into the order region with the highlighted extension into 1947-5 holding price, giving the long trade into the Excalibur target. What now? Resistance stands just above here at 1968 with the bias level now on the flip. Immediate support 1955 needs to break to go lower and above the order region we would suggest level to level if you're in long from below. Range for the remainder of the session possibly 1970 resistance, 1955 support. As always, trade safe. KOG
FX:XAUUSD
by KnightsofGold
7
THE KOG REPORT UPDATE:End of day update from us here at KOG: We got the scalps to the upside but that short worked a treat, straight into Excalibur as well as completing the bias level. TAP AND BOUNCE was 30-50pips to the upside so far but we would suggest caution, a retest late session or Asia session could be on the cards. For that reason, we would say support 1947-45 as an extended move with resistance now above at the 1965-70 level which will need to break for us to go higher. 1950-55 order region is really important now, they could hover here and range until tomorrow simply accumulating orders, so level to level please. From Camelot this morning: Pair: Date: Timeframe: XAUUSD 08/11/23 1H Support: 1965 / 1962 / 1955 / 1952 / 1950 Resistance: 1970 / 1973 / 1978 / 1982 / 1988 Price: 1966 KOG’s Bias for the day: Bearish below 1978 with targets below 1955 Bullish on break of 1978 with targets above 1988 As always, trade safe. KOG
FX:XAUUSD
by KnightsofGold
2
XAUUSD - KOG REPORT - FOMC!KOG Report – FOMC This is our view for FOMC today, 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 can cause aggressive swings in price. For this FOMC KOG Report we’re going to reference the KOG Report shared on Sunday where we said we would be looking for some form of relief rally in Gold. We suggested earlier in the month that we could potentially see this rally happening at some point during the last week of September, so for that reason we will be looking at the lower levels to go long. We have targets below which we would like to see completed before the move to the upside, what we want to see though is how the price reacts to these levels and where it creates its base. Our daily is already showing some bullish signs, however, the weekly is suggesting some more movement down is possible. A lot of traders will be sitting long here at the 200MA so a sweep of liquidity on the lows is very possible. For the reasons above, we’ll again be looking at the extreme levels to take entries with a plan to take this up towards the 1700+ price regions. Illustrated on the chart are the key support and resistance levels we feel they can tap into before swinging the move in the opposite direction! The first level we’re looking at is just below the 1650 psychological level where if we see a strong support we feel there will be an opportunity to take the long trade back up towards the 1680-95 price points. We’re going to keep it simple for this report as our plans are on the KOG reports and nothing has really changed, apart from the ranging price action that we’re witnessing pre-event. Its also possible that the market has priced in this release, in which case we will continue as we are. 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
16
XAUUSD - KOG REPORT!KOG Report: In last week’s KOG Report, we said we could see the price getting ready for another breakout of the range and that we would be sticking with the bearish view on Gold, however, expecting a short bull run at some point. We said to look for the levels of 1730-35 and above that 1745-50 as bullish targets before seeing a reaction in price. We said this region will be tapped into before another decline in price or give a target from the lows. We said 1714 would act as support and if the price remained above this level, we would see the push up into the 1730-35 target and potentially above. As you can see, we began the week with the support level holding and the push up straight into the 1730-35 level which then gave the reaction in price and gave the opportunity to exit, then reverse the trade for the short way down into our KOG Daily and weekly targets. A phenomenal week for us here at KOG tracking the market level to level, point to point as illustrated in the reports continuously. Hope traders did well to keep up with the daily analysis as well! So, what can we expect in the week ahead? Well, we’ll start by saying we’re going to remain with the plans we’ve been following for most of this year. We’re at a point of the market now where there is likely to be some form of relief rally which will give bulls something to look forward to. We want to position ourselves in Camelot to capitalise on this rally so want to try and catch it from the right levels. We can see more downside ahead and have lower targets so it’s a matter of patience now. For that reason, we’re switching from our long level to level strategy to a short level to level strategy with the view to take longs for the larger captures, as we’ve been doing with the short trades most of this year. The fractal shows we could see some more bearish pressure towards the last week of the month and with FOMC this week we’re likely to see some aggressive movement from Tuesday onwards. We have the immediate resistance levels above of 1685 and 1695, these price points would represent opportunities to go long in to and then look for a reaction in price. The lower support levels on the 4H chart are indicating a support level slightly below the 1650 level which is also where one of our two lower targets are sitting. As you can see from the 4H chart, we’re in a huge liquidity pool and can expect price to potentially range here and accumulate more orders. The problem with this region is that it can be used to propel the price in either direction, so please try to trade with a strict risk model in place this week. In summary: If price doesn’t tap the lows again, we’ll look higher to potentially short this again to go lower targeting below 1650, if price hits the lows first then we’ll look for a reaction in the pool, or slightly below before then taking the long trade. 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
17
XAUUSD - KOG REPORT! (Monthly)Monthly Chart: The monthly chart where we have highlighted the targets of which most have been achieved. The more important ones at the moment are those that are sitting at the bottom of the chart starting at 1657. As you can see, we have one missed target above which is sitting at around 1830, this is anticipated to get completed once Gold has put the low in, how low though remains to be seen. We’ll continue with the plan on the smaller time frames. 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
OANDA:XAUUSD
by KnightsofGold
6
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
FX:XAUUSD
by KnightsofGold
25
XAUUSD - KOG REPORT!In last week’s KOG report we said we would stick with the plan from the previous KOG Report where we were looking for an undercut low on Gold at some point before taking the long trade up into the higher levels looking for our Excalibur targets to complete. We said we were looking for a good entry to target the 1870, 1875 and above that the 1880-85 levels. The structure on the chart suggested we would get an undercut low from the week prior to last week’s KOG report as well as suggesting a higher high. We said we would be shorting the market level to level with caution but looking for that opportunity to go long into those higher levels. As you can see from last week’s report and charts the market played out nearly exactly as we planned giving traders not only the move down into support but also the move up, completing a point to point, level to level move once again! The move down and then up gave traders over 500pips banked on Gold alone last week, not to mention the numerous other pairs we traded in Camelot. We will however say, it was a very difficult market to trade with the range they presented in between! So, what can we expect in the week ahead? We’re now looking for the price to find some form of exhaustion from the Friday move and attempt a pullback before then going to target the resistance level which is sitting above. We’re not bullish or bearish this week and we’re certainly not confident this is a move on Gold to the ATHs. So, unlike last week where we only gave one plan, this week we will give you two scenario’s to consider when trading the early part of the week. Please remember we have FOMC this week so there’s every chance we will see a settled market playing within a range for the early part of the week. Scenario 1: On open, we see the price push up towards that 1878-85 level and find resistance. Based on this resistance we feel this would be an opportunity to short the market down into the 1860 and 1855 levels where we’re hoping the price will find support. Support here and its likely we will see the price again attempt to target the high and potentially test the 1900 level! Breaking 1850 and closing below it will negate this scenario. Scenario 2: We see the price push down in the early sessions, we will be looking for support around the 1860, 1855 levels to hold and then once confirmed feel confident this region would represent an opportunity to then go long to target the higher price levels of 1880, 1885 and above the 1890. Again, breaking below the 1850 level will negate this scenario. In summary: We can see this targeting higher levels but we’re still bearish on Gold overall. At the moment above 1850 we’ll look higher but ultimately, we’re anticipating a strong turn at some point for Gold to come and complete our lower targets. 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
FX:XAUUSD
by KnightsofGold
13
XAUUSD - KOG REPORT!In last week’s KOG Report we suggested we wanted to see some bullish momentum to target the higher resistance levels before then coming down to swoop the low. We wanted higher into the 1900s where we wanted to take the long-term short position and said we would treat it level to level following Excalibur. We had our mark on 1850 and suggested that this level will see a reaction in price, as you can see the market tested it but only gave a small bounce before breaking it and then turning it into resistance. We had lower targets of 1845, 1833 and 1821 and mentioned we had a lower target of 1790. All but one of these lower targets have been met, the 1790 level is still active. We completed 22 targets out of 24 trades in Camelot on top of the full house of trades we had last week. So what can we expect in the week ahead? A lot of traders are asking if this is going back up. This is the benefit of KOGs level to level trading strategy following the Excalibur, it doesn’t matter if the market goes to the moon or down to the ground, we trade it as we see it up and down, which is why we give both scenarios. We’ll start by saying this is well overdue a retracement from this move that we’ve been seeing. However, we want to see where this finds a short-term bottom before then making the move into the key levels above, for this reason we will be taking shorts with caution into immediate support levels and looking for a confirmed reversal before taking any long positions to target the higher levels. There is a huge chance that Gold can start to range here instead of making that move higher, so we’ll trade it how we see it this week with a neutral bias. We have our lower target or 1790 which we would like to see completed and below that 1775 which is also a possibility. We have maintained the bearish view on Gold and our members know that we have targets even lower for this precious metal. We will therefore trade this as usual with two scenarios in mind using the same chart we have been using from last month. Scenario 1: The price pushes down on opening, we will be looking for our 1790 level to complete with the potential for a low around the 1780 price point. If these levels hold and we see a confirmed support then we see this as an opportunity to take the long trade back up towards the 1810, 1820 and above that 1835 price regions. As long as the price stays below the 1850 region we will then be looking to take this back down into our lower targets which we will share over the course of the week. Scenario 2: The market pushes the price to the upside, here we will be looking first for 1810 as the first point or resistance, if this resistance breaks and turns into support there are opportunities to trade this level to level to the upside targeting 1818, 1825, 1832 and above that 1837. The 1830-35 price region is where we want to see a reaction in price and if we find a strong resistance here we feel there will be an opportunity to short the market back down to target that 1790 and 1780 level. In summary: We’re level to level with caution on the shorts unless we get better entries from higher resistance levels and the bias remaining short overall but neutral for this week. We’ll be looking for the price to find some short term support below to either establish a new range or to then begin some form or retracement to the upside with the 1830-35 level being a very important region. As long as the price stays below 1850 we will be looking to target lower pricing on Gold. Range for this week we would say is 1770-1835. 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
FX:XAUUSD
by KnightsofGold
17
XAUUSD - KOG REPORT - NFP!KOG Report NFP: This is our view for NFP today, 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 can cause aggressive swings in price. We’re going to keep this brief today as its very likely we won’t be trading this release unless our key levels are hit and then we may look to take a position. So far this week we’ve hit the lower target on Gold and we’ve hit the 1913-15 target on Gold. This leaves us with two values, one above and one below that we now want to target. The level above is illustrated on the chart and is around the 1925 price region, this level we feel would represent an opportunity to take the short trade back towards the lower targets starting at 1840. The lower target is an aggressive low which is situated around the 1825 region. A push on the price towards this level we feel would represent an opportunity to take the long trade back up to target the 1850, 1860 and above that 1880 levels. Just as we saw with the FOMC report we swung into our zone and the price reacted giving the short. This time we’ll wait again at the higher or lower regions and not get involved on the intraday levels, especially on a Friday! Hope this helps in preparation for NFP. 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.
FX:XAUUSD
by KnightsofGold
10
XAUUSD - KOG REPORT!KOG Report: In last weeks KOG report we said we would like to see some bearish pressure on Gold as long as the price stayed below the 1960 region. We suggested that if the market opened and pushed to the upside we would be looking for the zones illustrated on last weeks report to hold and then we would be looking to go short. We wanted to see at least the 1910 level target completed, however, the market reached 1914 and then turned bullish again. We suggested during the week in the FOMC report that we had a target of 1945 which you can see has now been achieved. So what can we expect in the week ahead? We’re going to keep this report shorter than usual as our plan hasn’t really changed from last week, only the potential regions for reaction have changed which we have updated on the chart. We’re going to say again that we’re not convinced with the bullish movement at the moment, our bias is still neutral, but we feel there is an opportunity to get in on a short trade to target the lower support levels below 1900! That’s not to say we’re not seeing this go up a bit more. So, we have two targets in mind for the week ahead, the above target of 1970-75 and a lower target area of around 1890-95. We will be looking to either go long from support to target the higher level or 1975 or be looking to short the market from the higher level of 1975 down into lower support levels. So we will look at this as usual with two scenarios in mind: Scenario 1: It would be ideal for the market to open and push up a little to tap into that 1950 supply and face some resistance there. We are expecting a pullback into the regions of 1940, 1935 and potentially 1920. This is where we feel there will be an opportunity to exits any short trades and take the long entry into the higher resistance level of 1970-75 where we will again be looking to go short for the lower levels. Please note, breaking 1920 and staying below this level will take us lower into 1910. Scenario 2: Price opens and pushes towards the downside, we will be looking for support to hold first around the 1930-35 region, breaking this the lower price point is 1920. If we see strong support here we will be looking to go long into the higher resistance levels of 1970-75 where again we will be looking to go short to target the lower support levels. So in essence, there are two key levels we are looking at targeting, we either want to go long from below to target 1970-75 or we want to go short from above to target 1895. Based on the mildness of the breakout on Friday it is very possible that we see this now range again just to really frustrate traders before they actually make the move they want to. While it ranges we will be trading this level to level the KOG way. As usual, we will update the analysis throughout the week and keep you in sync with any changes. Please do hit the like button, give us a follow and leave a comment. Your support and following is very much appreciated. As always, trade safe. KOG
FX:XAUUSD
by KnightsofGold
33
XAUUSD - KOG REPORT!KOG Report: In last weeks KOG Report we suggested we would be bullish on Gold and would be looking for the market to target the 1985 mark as long as it stayed above the 1950 price region. We suggested we wanted to see how the market would open and if that 1960-65 price region would act as resistance on the price, if that was the case then we would be looking for 1950 to get tested and would need to hold as support for the price to go higher. During the week we updated the analysis to keep followers in tow with what we were doing and looking at, you can see it played out not perfectly, but well. So what can we expect in the week ahead? We would love to say we’re bullish on Gold but at the moment we’re not too convinced with the structure and price action on the chart. This is not to say we’re not looking to go long but we feel we may see some more bearish movement on Gold as long as we remain below that 1960-65 price region. We're going to share the months analysis on a separate chart to give you our view on a longer term basis so please do take a look at that as well. So we’ll use the 4H chart today for the report as the levels in ranges like this are more appropriate and easier to use. Just like we did with the NFP report on Friday we’ll stick with a similar plan where we will be looking at the range of 1960-65 as resistance and key support sitting at around the 1880-85 region. We have FOMC on Wednesday so we would expect the market to begin the week slowly and potentially stay within the immediate range of 1910 to 1940-45. So we will look at this with 2 scenarios as usual keeping in mind we will update the analysis specifically for the FOMC KOG Report on Wednesday. Scenario 1: The market opens and tests the higher resistance levels as shown on the chart, we will be looking for this resistance level to hold and we feel that would represent an opportunity to short the market down towards the lower support levels, also shown on the chart. Please remember, this is a weekly plan, the best way to trade this is KOGs level to level way working your way through the levels to the final destination. Scenario 2: The market opens, we see the price test the lower support level of 1910 initially, based on support here we feel this would represent an opportunity to long the market towards the immediate resistance levels and range high. As we mentioned last week, while we’re in this range we will trade level to level with the plan to wait for the extreme support or resistance levels to take our positions for the longer term. We will maintain a neutral bias for this week waiting for the break or the range and the break level to turn into support or resistance. We have drawn a box on the chart with the immediate range for you. 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 are very much appreciated. As always, trade safe. KOG
FX:XAUUSD
by KnightsofGold
24