XAUUSD - KOG REPORT!

KOG Report:

In last weeks KOG Report we said we expected the manipulation move to continue and for that reason we would only be shorting the market level to level looking for our entries to target the 1800 level. We said we would be looking for the lower support regions to hold, and as long as they did we wanted to target the 1770, 1785 and above that 1801 price points. We said we wanted to see the market open and target the higher levels of 1775 and above that 1785 where would short before declining into our lower regions where we then wanted to go long. We then updated traders throughout the week with the level to level, point to point moves taking us up to the levels we wanted before then showing another short move for NFP. Please do look through the analysis and see how it worked out!

So, what can we expect for the week ahead?

We’re going to use the same 4H chart we have been continuously publishing to show you the levels to look for and the potential movement to come on Gold. We’re going to trade with caution this week as there are a few conflicting patterns on the chart which usually happen before there is another big move on the horizon. Our plan, however, remains the same, below the 1830-35 level we will remain bearish on this expecting lower pricing on Gold.

We can see pools above so there is a chance we will see the price attempt to break that 1800 level and go higher towards 1830-35 which is where we feel the ideal short will come from. We can also see levels below that needs visiting so the higher resistance levels are of huge importance over the coming weeks. They start at 1798, 1825 and above that 1830-35, so please keep these regions in mind as they also represent targets for potential long trades from support regions below. The key levels below haven’t changed and remain at 1750-55 and below that 1730-35. These are the potential targets for short trades as well as being turning points for the long trades.

The chart illustrates the moves we are looking for, the short regions above and the long regions below. In between these regions we will be trading this intraday with Excalibur guiding us through the markets keeping us in the right direction! These lower levels are important, we have a weak indication of a move that can potentially break that 1710 price point but its still early days. We’ll update you as we go along.

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As always, trade safe.

KOG