THE KOG REPORT

THE KOG REPORT:

I last week’s KOG report we said we would be watching that 2340 extension level for a move upside in the early part of the week, and if achieved we would be looking to short the market back down initially into the 2310 level which is where we felt the RIP will come from. We had a little stretch into 2355 but got the move we wanted for the trade and then the bounce. On the way up we also took the long in Camelot giving us a fantastic start to the week.

During the week we updated traders with the plan to go long into that higher regions and gave them a target level of 2370 which was achieved, in Camelot we had 2385, which was hit on the nose, gave us a TAP AND BOUNCE short trade, and the rest is history, what a move and trades on Gold last week giving us another record breaking capture.

Well done to our team for their hard work not only on Gold but the numerous other pairs we trade and analyse, with Oil also giving us a lovely upside trade.

So, what can we expect in the week ahead?

We’ll start by saying we have FOMC and Cpi this week on the same day, so please trade carefully and expect there to be more aggressive price action across the markets. We have some key levels here on gold sitting below at 2380-75 which we feel are reasonable for attack and as shown on the chart, if held we feel there is an opportunity to long the market back up into 2310 and above that 2325 regions with extension of the move into 2330. That would be the ideal move for us, and if we see resistance with a clean set up in that resistance level, we’ll be hunting a short again to take this a lower.

PLEASE NOTE – If they break below that level early session, the long trade will come from lower down in the 2250-55 region, which is a level to watch for this week!

KOG's bias for the week:

Bearish below 2335 with targets below 2385 and below that 2373

Bullish on break of 2335 with targets above 2355 and above that 2389

In summary:

Price goes up, we’ll trade it level to level, expecting ranging and choppy market conditions, looking for the higher resistance levels. Higher resistance levels, we’ll be looking for the short trade if it presents itself. Price goes down, we’ll look for support to hold, a clean reversal and we’ll look to long. Nice and simple, we’re looking for a few decent trades on Gold this week due to FOMC and Cpi.

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As always, trade safe.

KOG

Commentaire:

TYPO:

Bearish below 2335 with targets below 2285 and below that 2273

Bullish on break of 2335 with targets above 2355 and above that 2389

Commentaire:

We would say that's the first target that we want. We need a forceful break above this level but with thin volume it's better to take what they're giving out or protect any longs