THE KOG REPORT

THE KOG REPORT:

In last week’s KOG Report we said we would be looking for price to attempt the push up, go into resistance where we wanted to short the market into the order region, and then look for the long trade back up from there on the RIP into the levels above. This went extremely well giving us a pin point move from level to level. During the week we updated the idea, which was already going to plan with a new bullish bias level and trade the new Excalibur activations upside into just below where we are now.

Plan worked well again giving an almost pip to pip, level to level reaction from our levels and following our bias and analysis posted pre-hand.

Well done to those that followed not only gold but the numerous other pairs we trade in Camelot which also gave us fantastic results for the week.

So, what can we expect in the week ahead?

This week we would say caution on long trades unless we get a pullback into key level support where we feel it’s worth a test, unless the higher levels aren’t taken on or during the early sessions of the week. We have an order region sitting above 2425-35 which is a large region, and if we see price attempt and give us a clean reversal there, we feel an opportunity to short the market is available for traders back down into the 2400 and below that 2385 price region which is where they may want to start to accumulate again. The issue we have here is that 2445-65 level which is a clean region of liquidity if they want to take it and stretch the sellers even more, so here we will caution again, as that level is the extension of the move, be prepared!

So, in practice what do we do?

Because we’re back in uncharted territory again, we’ll have to treat this as level to level play, we’ll look lower in the highlight region to go long, unless broken, and if they continue to take us up, we’ll trade it level to level looking for the ultimate short trade following our trusted guide.

KOG’s Bias for the week:

Bullish above 2395 with targets above 2430-35 and above that 2447
Bearish on break of 2395 with targets below 2375

It’s going to be a difficult week with potential of gaps on opening due to a Powell speech later, be fore market open! There is a lot of geopolitical news driving the markets and fear is present, although it’s looking like we’re going higher we would say caution over the week as a sudden turn will be extreme!

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As always, trade safe.

KOG

Trade closed: target reached:

Target reached and completed