THE KOG REPORT

10 พ.ย.

THE KOG REPORT:

If last week’s KOG Report we shared the Election overview with the potential path and levels to look out for. We said we would be looking for the high to have been formed with resistance 2740-45, and then the move down to commence with the first level to target and for the bounce being the 2715 level. We identified our order region at 2700 and the extension of the move into the 2780-85 level which gave traders a wonderful opportunity to capture the short, then the bounce, then the short again.

On top of that, we shared the red boxes on the 4H chart, KOG’s bias of the day targets and the weekly bias targets, which were all completed.

Please have a look at how well the red box and Knights indicators respected the price.

So, what can we expect in the week ahead?

We have a potential range here 2650-55 and resistance 2730-35 where we could play some sideways consolidation, so for that reason we’re going to be a little cautious with shorting it here, instead look for the support levels to hold and then attempt the long trade. The initial level below is 2665, which if held should give traders a long into the red box resistance level 2700. It’s this level we need to see defended or broken, and if broken we will look higher into the 2730 region to take out our longs and then attempt the short trades. Breaking this level will entail completion of the election move taking us into the 2750-55 region where price may take a breather, so please keep this in mind.

If we continue upside from the open, then we will be looking to trade the red boxes level to level into the order region following the Excalibur targets. Not much in terms of news until mid-week with CPI, PPI and a Powell speech, so expect there to be choppy and ranging conditions, accumulation and price staying close to MA’s on the shorter timeframes.

KOG’s bias for the week:

Bearish below 2730 with targets below 2665, 2650 and below that the extension level 2620
Bullish on break of 2735 with target above 2740 and above that 2775

RED BOXES:

Break above 2690 for 2695, 2710 and 2730 in extension
Break below 2676 for 2665, 2655 and 2635 in extension

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