XAUUSD - KOG REPORT!

16/04/23

KOG Report:

In last week’s KOG Report we said we would be looking for the support levels initially of 1980-85 as the first point of contact where if based on a confirmed support we saw an opportunity to long the market into the higher levels. We gave the target levels of 2035 and above that the level of 2045 and then during the course of the week updated the extension of the move into that 2050 level. On Thursday we updated traders in our morning review and said we would be switching and going long level to level and to reduce the lot sizes as we were expecting a move to the downside so would only be shorting the market. It was another move played to near perfection with the path being targeted almost pip perfect down for the short and then up for the long with a phenomenal pip capture on not only Gold, but the numerous other pairs we trade in Camelot.

So, what can we expect in the week ahead?

Again, another extreme week on the horizon so expect more choppy price action, more fake break outs and more whipsawing across the markets. For Gold, we’re looking for an undercut low as a potential to start the early sessions, so if we do get it into the lower levels we feel an opportunity to long the market into the initial resistance is on the cards.

We have drawn in a new order region between the levels of 2030-35, we can class this as a no trade region so that’s the place where the balance is held. Break above and it’s likely we will resume the bullish move to break the 2050 level and take up above towards our higher resistance. Price below and there is potential for this to be shorted back down into the lower levels first at 1960-65 and below that 1930-35.

1930-35 is again the region where if price is tapped into we would expect the RIP from below.

KOG’s bias for the week:

Bearish below 2030 with targets below 1980 and below that 1965
Bullish on break of 2035 with targets above 2050

We have a target in mind for both the upside and the downside so will play this on the intra-day using our strategy and algorithm to guide us and keep us in the right direction.

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.

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As always, trade safe.

KOG