THE KOG REPORT - FOMC

yesterdayTHE KOG REPORT – FOMC

This is our view for FOMC, 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’re expecting some volatility this Session with the pending FOMC statement so for this report we’ll again look at the extreme levels. We’ve done well already this week, no need to risk anything trying to capture tops and bottoms, so keep an eye on the levels but remember, the trade comes after the event.

The move started early in the week with the price hitting our resistance level and then making the move we wanted completing our first target. This has however left the completion of the move on the table, so we’ll stick with Sundays KOG Report idea for now, but expect a move to the upside potentially into that 2602-5 region and above that 2610! It’s 2610 as the extension that needs to reject the price in order for it make that move downside, as breaking above that will take us further into the 2625-30 region before any breather.

So, as the chart shows, if we get 2602-5 and reject, we could see price move downside to clear the liquidity sitting first at 2550-55 and below that 2525-30.

2525-35 if visited, we feel would represent an opportunity to capture the swing low and then attempt to target that 2550-55 region as the first target.

We’re going to play it safe this time and say if it works it works, if it doesn’t, it doesn’t. If you followed us this week, again we’ve done what we needed to for the week, everything else here is a bonus and should be treated with minimal risk on the markets, until they have settled.

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As always, trade safe.

KOG

yesterday

Trade closed: target reached

Second target reached, we managed to get in on a TAP AND BOUNCE courtesy of EXCALUBUR