XAUUSD - KOG REPORT UPDATE:
Quick end of day update from us here at KOG:
So as we suggested in yesterdays update, we would be sticking to the plan on the KOG report where were looking for resistance levels to take this down into the support level below before looking for a long trade. As you can see Cpi moved it to where we wanted which gave traders an opportunity to long the market back up to complete the move. What we would suggest now is to take partials on any long trades and protect them. We also managed to identify the 45 resistance which has so far given us around 80pips to the downside, also partials taken and trades protected.
What we want to see now is how the price reacts at the support level below and if it attacks 1750 tomorrow to try and break it. Daily close is important as we’re still below the 1740 level at the moment and its likely this will now settle around here or just below to bring its hourly mean up and converge.
We'll be back tomorrow with another update.
As always, trade safe.
KOG
So as we suggested in yesterdays update, we would be sticking to the plan on the KOG report where were looking for resistance levels to take this down into the support level below before looking for a long trade. As you can see Cpi moved it to where we wanted which gave traders an opportunity to long the market back up to complete the move. What we would suggest now is to take partials on any long trades and protect them. We also managed to identify the 45 resistance which has so far given us around 80pips to the downside, also partials taken and trades protected.
What we want to see now is how the price reacts at the support level below and if it attacks 1750 tomorrow to try and break it. Daily close is important as we’re still below the 1740 level at the moment and its likely this will now settle around here or just below to bring its hourly mean up and converge.
We'll be back tomorrow with another update.
As always, trade safe.
KOG
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🔴 TWITTER: twitter.com/knightsofgold2
🟢 INSTAGRAM: instagram.com/knights_of_gold/
🟡 Disclaimer: Not financial advice. For educational purposes only.
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