THE KOG REPORT - Update

End of day update from us here at KOG:

A nice Monday for us in Camelot with Gold coming down into the support region of the range, giving the RIP we wanted not only giving us one, but two nice long trades. We then suggested trades halt on going long as those resistance levels were important regions, and instead we managed to identify the short trade which came from lower than expected.

So, what now?

Anyone long should now be closed at breakeven after taking a decent run upside earlier. We're still ranging and accumulating, so no reason to get to eager to start aggressively shorting into the level we wanted last week, just yet. We need to see how the circled region of 2320-17 behaves and whether it holds price down, as this region is being used to propel the price in both directions, hence the choppy price action. If this level continues to hold, we'll continue with the move downside looking for our target levels, if not, and we bounce again here, we're looking for those higher levels mentioned in the KOG Report again.

Until this really makes the move, it's level to level to trading our side, we'll look for those quick captures over the sessions awaiting the ultimate move.

As always, trade safe.

KOG

Commentaire:

Circles region held price giving the move downside early session, support 2310 and below that 2304, resistance 2320 needs to break to go higher