KOG Report:
In last weeks KOG Report we said we would be looking to start the week with an undercut low which we felt would represent an opportunity to long the market into the higher resistance levels which we had illustrated on the chart. In Camelot, we took this level to level following the strategy enabling us to capitalise on the move to the upside until we suggested taking it easy on the long trades and switching to the short bias. Our planned level for the short trades was the 2030-35 price point which wasn’t achieved but we managed to identify the structure and pattern which gave us the 2010-12 point during the course of the week.
All in all, a great week and capture on the longs and the shorts on the structure strategy giving a phenomenal pip capture on Gold as well as the other pairs we trade.
So, what can we expect in the week ahead?
Again, this week we would like to see a similar set up to last week where we see the low attacked in the early sessions and based on strong support would like to find opportunities to long into the higher resistance levels starting at the 1995-2000 region and above that 2010-12. The higher resistance is where we would like to see a reaction in price and assess the structure to identify whether this is going to go higher or, we’re going to see another low put in.
For the week, we’re going to stick with the bearish below bias for now with not a lot of change from last week’s KOG Report where we’re still keeping an eye on that higher resistance levels to hold for price to go lower.
KOG’s bias for the week:
Bearish below 2010-12 with targets below 1975 and below that 1965
Bullish on break of 2010-12 with targets above 2035
As usual, we will update the analysis with any changes during the course of the week as well as in the morning reviews with the bias and key levels.
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
In last weeks KOG Report we said we would be looking to start the week with an undercut low which we felt would represent an opportunity to long the market into the higher resistance levels which we had illustrated on the chart. In Camelot, we took this level to level following the strategy enabling us to capitalise on the move to the upside until we suggested taking it easy on the long trades and switching to the short bias. Our planned level for the short trades was the 2030-35 price point which wasn’t achieved but we managed to identify the structure and pattern which gave us the 2010-12 point during the course of the week.
All in all, a great week and capture on the longs and the shorts on the structure strategy giving a phenomenal pip capture on Gold as well as the other pairs we trade.
So, what can we expect in the week ahead?
Again, this week we would like to see a similar set up to last week where we see the low attacked in the early sessions and based on strong support would like to find opportunities to long into the higher resistance levels starting at the 1995-2000 region and above that 2010-12. The higher resistance is where we would like to see a reaction in price and assess the structure to identify whether this is going to go higher or, we’re going to see another low put in.
For the week, we’re going to stick with the bearish below bias for now with not a lot of change from last week’s KOG Report where we’re still keeping an eye on that higher resistance levels to hold for price to go lower.
KOG’s bias for the week:
Bearish below 2010-12 with targets below 1975 and below that 1965
Bullish on break of 2010-12 with targets above 2035
As usual, we will update the analysis with any changes during the course of the week as well as in the morning reviews with the bias and key levels.
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
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🟡 Disclaimer: Not financial advice. For educational purposes only.
🔴 TWITTER: twitter.com/knightsofgold2
🟢 INSTAGRAM: www.instagram.com/knights_of_gold/
🟡 Disclaimer: Not financial advice. For educational purposes only.
