Get started

KOG

XAUUSD - KOG REPORT!In last weeks KOG Report we said we would be expecting more bullish momentum in Gold and would be looking for the price to find support at the lower levels before hitting our Excalibur targets at 1829 and 1841. We hit the targets we mentioned last week but without visiting the support levels below. We also said breaking the 1850-55 level would lead the price to gain even more momentum and touch the higher levels of 1870-85. As you can see we’ve stopped just shy of the 1870 level hitting 1868 and finding resistance. So what can we expect in the week ahead? We’re going to start by saying we’re still bearish on Gold, however, we can see indications and have Excalibur targets above. We’re going to add a chart on our group showing only the Excalibur targets illustrated so you can see what we’re looking at. We would imagine there to be some pullbacks this week with support levels first around the 1845-50 region and below that the 1840-35 price region. These price points would represent good levels to target if you’re shorting the market next week in our view. We have higher price indications of 1874 above that 1881 and above that 1910!! This also coincides with the potential daily trend we’re in which we have highlighted on the chart. These higher price points we feel would represent good targets to aim for if you’re going long in the market. We will be looking for the pullback which we feel is overdue and once price finds support at the levels mentioned we will be looking to go long for the higher Excalibur targets. If however, the price goes up first we will be looking to short the market for you lower levels. Below is the weekly chart we shared a few weeks ago. As you can see on this chart we’ve broken through the key liquidity area which for the short term can now be used a support zone and it looks like that price wants to target the higher liquidity region of around 1900. This again falls in line with the Excalibur target we have around the 1910 price point. At this price point we feel its best to play this market level to level rather than trying to catch the big moves. As always, trade safe. KOG
FX:XAUUSD
by KnightsofGold
4
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. Its 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 can be extremely volatile and these events can cause extreme swings in the price. We didn’t expect there to this much of a move Pre-FOMC but we did warn members the US session could move the market. As usual we’re going to look at this with two scenarios in mind: Scenario 1: The price goes up from where we are, we will look for resistance 1 around the 1780-85 region, if we see strong resistance here this could represent an opportunity to short the market back down towards the 1750 region as the first target. Breaking the 1785 level to the upside and we will wait for higher up to short the market again. Scenario 2: The price goes down towards the 1750-45 level and we face strong support here, this could represent an opportunity to long the market back up towards the 1780-85 region as the first target. Breaking the 1750-45 level will push the price to the lower level of 1735-30 where we can look for support again. Levels: Support: 1750-52 1730-35 Resistance: 1780-85 1805-7 1810-16 (Excalibur) We have some targets above so we would expect there to be a bit of a bull rally at some point in the coming sessions. Please remember we also have NFP this week so there is more of this choppy price action and aggressive swings to come! As always, trade safe. KOG
FX:XAUUSD
by KnightsofGold
15
XAUUSD - KOG REPORT! (Weekly)Weekly: In last weeks KOG report we suggested we were looking for support below and for the price to target our Excalibur level of 1810. We were looking for higher but we rejected near enough exactly at that level. This week we're going to do something a little different. We're going to do a top down analysis and share it with the community, starting with the weekly chart and ending with the 4H. This will hopefully give traders a clearer insight into what we're looking at and what we're looking for. We’ve zoomed out and looked at the trend, chart patterns and fractals going back to 1971. We can see that its obvious Gold is in an overall uptrend as the long term channel shows. We’ve taken the support and resistance levels from previous highs and lows to give you the weekly levels as well as tried to illustrate the smaller patterns and channels. We have also added the immediate range showing you the levels we are likely to see price testing in the coming weeks. There are some key points and references: If you look back at the 2011 (please zoom out of the chart, we have illustrated the pattern) and look at the triangle created you can see we’re following a similar pattern. Now we’re not saying we’re expecting the price to do the same thing, we’re merely suggesting we could face a similar scenario. We have to trade the chart how we see it and how it presents itself, not how we want to see it and what we want to happen. We’ve taught our students about how to trade triangles and what to look for so this is our first point of focus. We have the immediate range high and low which is 1830 and 1720. Our ideal scenario in this case is a test on that 1830 level one more time where if we face resistance we feel would represent and opportunity to short the market for the lower support region. Now, we’ve looked back over the last 10yrs and the seasonality of Gold on the Monthly and weekly charts. You will see that Nov is either a ranging month or a negative month for Gold. If we look at the chart and the potential triangle we’re in we would expect this to test both the levels mentioned in the range at some point during this month. We’ll add a 4H chart later to show you the range and where we feel are long and short zones. Even after the small sell off on Friday we’ve still closed as a bullish candle. We would expect an attempt on testing the high of the Oct candle which will again lead us towards the 1830-35 region. Nov monthly candle close is really important to determine the next trend in Gold and it leads us towards the end of the triangle so please trade this carefully, the chart is lining up for a breakout on the longer term time frames and its likely when it moves after such accumulation it will be a big move. Key levels: 1829-35 1812-17 (we have an Excalibur target here) 1783-87 1750 1720-25 1682-87 This is a weekly time frame and represents our short to medium term outlook. Please use as reference only. As always, trade safe.
FX:XAUUSD
by KnightsofGold
8