KOG Report:
In last weeks KOG report we said we would be looking for two trades, either a long from support levels or a short from resistance levels if they took it up. We suggested keeping an eye on the 2010-15 resistance as we expected a reaction in price there, and if broken we would be looking at the 2030-35 region as a target point. During the week, we released KOG’s bias for the week with a target of 2055 based on the monthly chart we also shared. We suggested anyone taking longs leave a runner for potential higher pricing, which if you did, hat’s off to you!
An aggressive end to the week which was expected with gold closing just short of it’s previous high in line with the monthly chart that was shared.
So, what can we expect in the week ahead?
We’re going to keep a close eye on that monthly chart which is linked below that has a target level of 2093-5 to be precise. Now, this is definitely going to be a difficult end to the year as due to this move, having left voids behind and nearly completing the swing, there is huge potential for a big pullback before then resuming the attack at that level. For that reason, just as the reports prior to this, we would suggest caution on the markets, especially if you’re new to trading.
Again, we’re going to take it steady, trading this level to level using KOG’s red box strategy and taking it level to level if they continue this move to the upside. The levels below of importance are the order region 2050-55 where if they bring the price down to and we see strong support, we feel an opportunity to long back up to target that 2090-95 region could be on the cards. A break of that level and they are likely to correct this move taking us down towards 2020-25 before we see a reaction in price.
On the flip, the ideal scenario for us here is for price to attempt an attack at the resistance level above, shown on the chart, and if we see a confirmed set up with strong resistance, we feel an opportunity to swing short is on the horizon. These resistance levels are 2075 and above that 2090-95 with extension of the move into 2105-10 as an extreme level.
We will update traders during the week with KOG’s bias for the day and our target levels which are proving to be very effective in guiding traders through the markets.
KOGs bias for the week:
Bullish above 2050 with target levels above 2085 and above that 2107
Bearish on break of 2050 with targets below 2020
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 weeks KOG report we said we would be looking for two trades, either a long from support levels or a short from resistance levels if they took it up. We suggested keeping an eye on the 2010-15 resistance as we expected a reaction in price there, and if broken we would be looking at the 2030-35 region as a target point. During the week, we released KOG’s bias for the week with a target of 2055 based on the monthly chart we also shared. We suggested anyone taking longs leave a runner for potential higher pricing, which if you did, hat’s off to you!
An aggressive end to the week which was expected with gold closing just short of it’s previous high in line with the monthly chart that was shared.
So, what can we expect in the week ahead?
We’re going to keep a close eye on that monthly chart which is linked below that has a target level of 2093-5 to be precise. Now, this is definitely going to be a difficult end to the year as due to this move, having left voids behind and nearly completing the swing, there is huge potential for a big pullback before then resuming the attack at that level. For that reason, just as the reports prior to this, we would suggest caution on the markets, especially if you’re new to trading.
Again, we’re going to take it steady, trading this level to level using KOG’s red box strategy and taking it level to level if they continue this move to the upside. The levels below of importance are the order region 2050-55 where if they bring the price down to and we see strong support, we feel an opportunity to long back up to target that 2090-95 region could be on the cards. A break of that level and they are likely to correct this move taking us down towards 2020-25 before we see a reaction in price.
On the flip, the ideal scenario for us here is for price to attempt an attack at the resistance level above, shown on the chart, and if we see a confirmed set up with strong resistance, we feel an opportunity to swing short is on the horizon. These resistance levels are 2075 and above that 2090-95 with extension of the move into 2105-10 as an extreme level.
We will update traders during the week with KOG’s bias for the day and our target levels which are proving to be very effective in guiding traders through the markets.
KOGs bias for the week:
Bullish above 2050 with target levels above 2085 and above that 2107
Bearish on break of 2050 with targets below 2020
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.
