THE KOG REPORT - UpdateEnd of day update from us here at KOG:
Yesterday we said we would be looking to target 1 of 2 levels once price breaks out. We managed to hit the higher target on the breakout and got a 100pip RIP from the zone before the move terminated. NY however, gave us the entry we wanted on the boxes and to target Excalibur from the lower level netting a phenomenal pip capture, the TP was shared with the wider community as well.
So now, as we're in unchartered territory up here it's a little risky to go long unless we get the pull back into the lower support region and it holds. We have circled the higher level which we feel price will want to attempt and if targeted during the Asian session may give us a RIP.
For now, it's been an amazing week on gold, tomorrow is a day off from the markets.
KOG’s bias for the week:
Bearish below 3040 with targets below 3010✅, 3006✅, 2997, 2985 and below that 2978
Bullish on break of 3040 with targets above 3050✅, 3055✅, 3063 and above that 3067
RED BOXES:
Break above 3037 for 3040✅, 3047✅, 3050✅, 3055✅, 3063 and 3066 in extension of the move
Break below 3010 for 3006✅, 3000, 2997, 2990 and 2985 in extension of the move
As always, trade safe.
KOG
