FOMC – KOG Report:
This is our view for FOMC tomorrow, please do your own research and analysis to make an informed decision on the markets. It is not recommended you try to trade the event if you have less than 6 months trading experience and have a trusted risk strategy in place. The markets are extremely volatile, and these events can cause aggressive swings in price.
We would suggest if you’re new to trading to stay away from the markets and come back tomorrow, once they have moved the price to where they want to.
In Sundays KOG Report we said that if we saw price give indications of a down move we would trade it level to level on the way down targeting 1975 which is where we would want to see a reaction in price. Right now, as we stand, we’re not going to think about going long on price unless we hit the key levels below, where, if we see a clean set up an opportunity to long the market could be on the cards.
Please note, we will only be following our target levels and trading this level to level due there being NFP on Friday as well.
Illustrated on the chart is the path we’re looking for, if we don't get it we'll stay out. If they take it up during the release we’ll sit and wait for the higher resistance levels to hold before attempting the short trade.
Levels to look out for:
Support: 1960 / 1955 / 1950 for the tap and bounce
Resistance: 1985 / 1990 / 1995
KOG’s bias of the day:
Bearish below 1987 with targets below 1963 and below that 1955
Bullish on break of 1987 with targets above 2005 and above that 2015
Expect swings and spikes in either direction, especially during the press conference which is after the statement.
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.
KOG
This is our view for FOMC tomorrow, please do your own research and analysis to make an informed decision on the markets. It is not recommended you try to trade the event if you have less than 6 months trading experience and have a trusted risk strategy in place. The markets are extremely volatile, and these events can cause aggressive swings in price.
We would suggest if you’re new to trading to stay away from the markets and come back tomorrow, once they have moved the price to where they want to.
In Sundays KOG Report we said that if we saw price give indications of a down move we would trade it level to level on the way down targeting 1975 which is where we would want to see a reaction in price. Right now, as we stand, we’re not going to think about going long on price unless we hit the key levels below, where, if we see a clean set up an opportunity to long the market could be on the cards.
Please note, we will only be following our target levels and trading this level to level due there being NFP on Friday as well.
Illustrated on the chart is the path we’re looking for, if we don't get it we'll stay out. If they take it up during the release we’ll sit and wait for the higher resistance levels to hold before attempting the short trade.
Levels to look out for:
Support: 1960 / 1955 / 1950 for the tap and bounce
Resistance: 1985 / 1990 / 1995
KOG’s bias of the day:
Bearish below 1987 with targets below 1963 and below that 1955
Bullish on break of 1987 with targets above 2005 and above that 2015
Expect swings and spikes in either direction, especially during the press conference which is after the statement.
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.
KOG
🔵 FREE TELEGRAM CHANNEL: t.me/KnightsofGold
🔴 TWITTER: twitter.com/knightsofgold2
🟢 INSTAGRAM: instagram.com/knights_of_gold/
🟡 Disclaimer: Not financial advice. For educational purposes only.
🔴 TWITTER: twitter.com/knightsofgold2
🟢 INSTAGRAM: instagram.com/knights_of_gold/
🟡 Disclaimer: Not financial advice. For educational purposes only.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
🔵 FREE TELEGRAM CHANNEL: t.me/KnightsofGold
🔴 TWITTER: twitter.com/knightsofgold2
🟢 INSTAGRAM: instagram.com/knights_of_gold/
🟡 Disclaimer: Not financial advice. For educational purposes only.
🔴 TWITTER: twitter.com/knightsofgold2
🟢 INSTAGRAM: instagram.com/knights_of_gold/
🟡 Disclaimer: Not financial advice. For educational purposes only.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.