KOG Report:
In last week’s KOG Report, we said we would be sticking with the same plan, to remain bearish and target lower pricing in Gold. We said we would like to see a back test on the low around the 1635 mark before going long into the 1650-55 region. We wanted to then short the market again from the resistance levels looking to take this lower into the Excalibur targets below, we didn’t however get our 1685 region, instead 55-60 gave us the opportunity. As you can see, price action played out near perfectly, level to level into our KOG zones before giving the short trade down into 1620 as shown on last weeks chart.
Pre-NFP, we identified a fractal on the chart which showed the possibility of a failed Adam and Eve which would push the price bullishly to the upside, so we changed our stance on Friday to bullish above 1635 with targets above 1655 and above that 1665. Which as you can see completed on the NFP move.
A great week in Camelot with numerous targets being completed across many pairs.
So, what can we expect in the week ahead?
Right, we’re still bearish! We want the low to be completed so we’ll stick with the plan to go long level to level with the intention of shorting this again from the higher resistance levels. Just like last week, we’ll look to target the lower support regions and create a base, once we see strong support we feel an opportunity to long the market into the higher levels is on the cards.
We want to see this tap the higher resistance levels and bounce at some point during the week giving us the opportunity to short it from the levels shown on the chart. As long as price stays below the 1730 level we’ll remain with the same plan, however, having said that, the KOG strategy allows us to benefit from the movement no matter where the price goes so we’ll play it how we see it and update during the course of the week.
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.
In last week’s KOG Report, we said we would be sticking with the same plan, to remain bearish and target lower pricing in Gold. We said we would like to see a back test on the low around the 1635 mark before going long into the 1650-55 region. We wanted to then short the market again from the resistance levels looking to take this lower into the Excalibur targets below, we didn’t however get our 1685 region, instead 55-60 gave us the opportunity. As you can see, price action played out near perfectly, level to level into our KOG zones before giving the short trade down into 1620 as shown on last weeks chart.
Pre-NFP, we identified a fractal on the chart which showed the possibility of a failed Adam and Eve which would push the price bullishly to the upside, so we changed our stance on Friday to bullish above 1635 with targets above 1655 and above that 1665. Which as you can see completed on the NFP move.
A great week in Camelot with numerous targets being completed across many pairs.
So, what can we expect in the week ahead?
Right, we’re still bearish! We want the low to be completed so we’ll stick with the plan to go long level to level with the intention of shorting this again from the higher resistance levels. Just like last week, we’ll look to target the lower support regions and create a base, once we see strong support we feel an opportunity to long the market into the higher levels is on the cards.
We want to see this tap the higher resistance levels and bounce at some point during the week giving us the opportunity to short it from the levels shown on the chart. As long as price stays below the 1730 level we’ll remain with the same plan, however, having said that, the KOG strategy allows us to benefit from the movement no matter where the price goes so we’ll play it how we see it and update during the course of the week.
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.
🔵 FREE TELEGRAM CHANNEL: t.me/KnightsofGold
🔴 TWITTER: twitter.com/knightsofgold2
🟢 INSTAGRAM: www.instagram.com/knights_of_gold/
🟡 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.
