THE KOG REPORT:
In last week’s KOG Report we said we would be looking for a price to attempt the higher level red box sitting around the 3370-75 region and if not breached, we felt an opportunity to short would be available from that region. We said if that failed and the move commenced, we would be looking at a complete correction of the move back down into the 3330-35 region, where we would then monitor price again in anticipation of a long from there or the extension level of 3310 which was also a red box short target (move complete). As you can see from the above, not only did we get that higher red box, we rejected, completed the move downside and then our traders managed to get that long trade all the way back up into the Excalibur target, red box targets and the hotspots shared in Camelot.
A decent week again, not only on Gold but also the numerous other pairs we trade, share targets on and analyse.
So, what can we expect in the week ahead?
For this week we can expect more ranging price action, but due to the previous range from last week being so tight, it looks like we’ll see a breakout coming in the latter part of the week unless there is news to bring us unexpected volume.
We have the key level below 3335-40 support and above that resistance and a red box sitting at 3375-80. This is the region that needs to watched for the break, and if broken we should hit the range high again at 3400-10. However, if rejected, we could again see this dip to attack that lower order region 3310-6 before attempting to recover.
Last week we wanted to see that curveball and although we did see some aggressive price action, I think we will see something extreme for this week. It’s that lower level 3310-6 that is a key region for bulls, if broken we can see a complete flush in gold taking us down into the 3250’s before we start the summer run. That for us would be the ideal scenario going into the month end, but, we’ll play it how we see and as usual, we go level to level and update any changes as we go along.
KOG’s Bias for the week:
Bullish above 3340 with targets above 3355, 3361, 3368, 3372 and above that 3385
Bearish below 3340 with targets below 3335, 3330, 3322, 3316, 3310 and below that 3304
RED BOX TARGETS:
Break above 3350 for 3355, 3361, 3367, 3375 and 3390 in extension of the move
Break below 3340 for 3335, 3330, 3320, 3310 and 3306 in extension of the move
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
In last week’s KOG Report we said we would be looking for a price to attempt the higher level red box sitting around the 3370-75 region and if not breached, we felt an opportunity to short would be available from that region. We said if that failed and the move commenced, we would be looking at a complete correction of the move back down into the 3330-35 region, where we would then monitor price again in anticipation of a long from there or the extension level of 3310 which was also a red box short target (move complete). As you can see from the above, not only did we get that higher red box, we rejected, completed the move downside and then our traders managed to get that long trade all the way back up into the Excalibur target, red box targets and the hotspots shared in Camelot.
A decent week again, not only on Gold but also the numerous other pairs we trade, share targets on and analyse.
So, what can we expect in the week ahead?
For this week we can expect more ranging price action, but due to the previous range from last week being so tight, it looks like we’ll see a breakout coming in the latter part of the week unless there is news to bring us unexpected volume.
We have the key level below 3335-40 support and above that resistance and a red box sitting at 3375-80. This is the region that needs to watched for the break, and if broken we should hit the range high again at 3400-10. However, if rejected, we could again see this dip to attack that lower order region 3310-6 before attempting to recover.
Last week we wanted to see that curveball and although we did see some aggressive price action, I think we will see something extreme for this week. It’s that lower level 3310-6 that is a key region for bulls, if broken we can see a complete flush in gold taking us down into the 3250’s before we start the summer run. That for us would be the ideal scenario going into the month end, but, we’ll play it how we see and as usual, we go level to level and update any changes as we go along.
KOG’s Bias for the week:
Bullish above 3340 with targets above 3355, 3361, 3368, 3372 and above that 3385
Bearish below 3340 with targets below 3335, 3330, 3322, 3316, 3310 and below that 3304
RED BOX TARGETS:
Break above 3350 for 3355, 3361, 3367, 3375 and 3390 in extension of the move
Break below 3340 for 3335, 3330, 3320, 3310 and 3306 in extension of the move
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
Trade active
Support held move up into Excalibur completed but we still look like we have higher to go. Support now 3350 which needs to hold for further upside Trade closed: target reached
Not a bad week on gold in difficult market conditions. Bias worked well with all bullish above targets completed, and a couple now for the bearish below. We'll see how we close on the daily nowKOG's bias for the week:
Bullish above 3340 with targets above 3355✅, 3361✅, 3368✅, 3372✅ and above that 3385✅
Bearish below 3340 with targets below 3335✅, 3330, 3322, 3316, 3310 and below that 3304
RED BOX TARGETS:
Break above 3350 for 3355✅, 3361✅, 3367✅, 3375✅ and 3390✅ in extension of the move
Break below 3340 for 3335✅, 3330, 3320, 3310 and 3306 in extension of the move
🔵 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.
Related publications
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.
Related publications
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.