14/05/23
KOG Report:
In last week’s KOG Report, we said we would be expecting a move to target that higher resistance level of 2030-35 and felt an opportunity to long the market in the early part of the week would be a possibility. We then said we would be looking for the higher resistance levels to hold price and based on a reaction in price, we would be looking to short the market back down. We updated the chart mid-week with the further plan including the extreme levels for the economic releases and what we wanted to achieve.
In Camelot pre-market open, we had detailed the plan looking for the false breakout and a strategy to go against the move to capture it in the opposite direction, should they have moved the price aggressively. It was perfectly executed and once again a KOG report that flowed level to level, in true KOG fashion.
So, what can we expect for the week ahead?
It’s going to be a simple one this week as we’ve done well this month and we’re not going to post multi-time frame charts for the sake of just posting charts. Please have a look at our previous posts if you are interested in the longer time frame view and you’ll see how accurate they are.
We’re at a crucial support level here on multiple time frames so there is a possibility of price attempting to climb which would make the early session support level the 2003-5 region which will need to hold for us to see an attack on resistance. We have put in the level of 2017 and above that we’re looking at 2020-25 again. These price points we feel are possible targets for any long trades captured from the early session lows. What we want to see is how the price reacts at these levels, if is gets there and whether we can see confirmed set up to again attempt to short the market continuing with our plan from a couple of weeks ago.
For that reason, we will be looking for a swipe at the low in the early sessions, and upon confirmed support looking for the price to target that higher resistance level at 2020-25 and above that 2030-35 in the stretch. If they take it up towards the 2030-35 level before breaking the 2000 level, we feel there is an opportunity to then short the market back down to break the level and target 1980.
So, in summary, based on support we will be looking to long the market up into resistance and based on confirmed resistance, we will be looking to short the market back down.
As always, we will update this plan if there are any changes during the course of the week.
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
KOG Report:
In last week’s KOG Report, we said we would be expecting a move to target that higher resistance level of 2030-35 and felt an opportunity to long the market in the early part of the week would be a possibility. We then said we would be looking for the higher resistance levels to hold price and based on a reaction in price, we would be looking to short the market back down. We updated the chart mid-week with the further plan including the extreme levels for the economic releases and what we wanted to achieve.
In Camelot pre-market open, we had detailed the plan looking for the false breakout and a strategy to go against the move to capture it in the opposite direction, should they have moved the price aggressively. It was perfectly executed and once again a KOG report that flowed level to level, in true KOG fashion.
So, what can we expect for the week ahead?
It’s going to be a simple one this week as we’ve done well this month and we’re not going to post multi-time frame charts for the sake of just posting charts. Please have a look at our previous posts if you are interested in the longer time frame view and you’ll see how accurate they are.
We’re at a crucial support level here on multiple time frames so there is a possibility of price attempting to climb which would make the early session support level the 2003-5 region which will need to hold for us to see an attack on resistance. We have put in the level of 2017 and above that we’re looking at 2020-25 again. These price points we feel are possible targets for any long trades captured from the early session lows. What we want to see is how the price reacts at these levels, if is gets there and whether we can see confirmed set up to again attempt to short the market continuing with our plan from a couple of weeks ago.
For that reason, we will be looking for a swipe at the low in the early sessions, and upon confirmed support looking for the price to target that higher resistance level at 2020-25 and above that 2030-35 in the stretch. If they take it up towards the 2030-35 level before breaking the 2000 level, we feel there is an opportunity to then short the market back down to break the level and target 1980.
So, in summary, based on support we will be looking to long the market up into resistance and based on confirmed resistance, we will be looking to short the market back down.
As always, we will update this plan if there are any changes during the course of the week.
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
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🟡 Disclaimer: Not financial advice. For educational purposes only.
🔴 TWITTER: twitter.com/knightsofgold2
🟢 INSTAGRAM: www.instagram.com/knights_of_gold/
🟡 Disclaimer: Not financial advice. For educational purposes only.
Following on from the KOG report, we suggested seeing an early attempt at the low before an attack on resistance where we would be looking to exit and long trades and then hunt for the short from the levels 2017 and above that 2020-25. We wanted to see a confirmed setup to then short the market back down into the lower support levels. So far, so good! Levels are working well, structure is holding strong and the trades are coming up and down, level to level. Would suggest short trades are now protected as per the analysis earlier, and partials/majority taken.
If we bounce here from the range low, we’ll want to target that 2010 level again first, that’s where we’ll decide what to do next. Otherwise, hold the short protected and we’ll see where we find a base.