THE KOG REPORT

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THE KOG REPORT:

In last week’s KOG Report, we said if support held after the open we felt we would get a push to the upside into the order region and if the market held the region we felt an opportunity to short the market was available. That short trade worked well and after partials were taken it was protected. During the week we suggested traders trade caution and we would be looking to target that order region again on the long trade. Again, that trade worked well for us giving a fantastic pip capture half way through the week. We than said we would protect all trades as a break above that order region will then give traders the opportunity to long the market into the 2370-75 region where we would then likely see a reaction in price.

Both these moves presented themselves, although the long wasn’t taken due to it being early session, the short at the end of the week was identified.

The pip capture on gold was immense, not to mention the numerous other pairs we trade and analyse in Camelot.

So, what can we expect in the week ahead?

This week we’ll keep it simple, we’re looking for the market to open and hold these resistance levels so we can continue with a move back down into the order region to start with. So we have the resistance levels of 2360 and above that 2365, which if held could present an opportunity to short the market back down into the order region of 2350-55 with extension into 2345 which is where we’re expecting a temporary bounce in price. We need to be careful here as if this level is held during the early part of the week, we could see a complete correction of the move from Friday back into the 2343-35 region before any opportunity to swing low and then take the long trade back upside which we will monitor.

The levels are on the chart as is the illustration, we’ll update as we always do during the week. Please note, it’s another big week this week funds wise and with the geopolitical cloud above us expect more extreme swings and whipsawing price action. Your SL is your friend, it’s the difference between you having an account to trade or not having one!

Short report this week team so we'll keep it provisional for now.

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As always, trade safe.

KOG

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أغلقت الصفقة: تم الوصول للهدف

Nice move to start the week with, resistance held giving the short into the order region where we are now. We may see a little lower so a clean reversal is needed to catch any retracement

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ملاحظة

Order region tapped, bounced. Level to level longs.