End of day update from us here at KOG:
In the KOG Report on Sunday we gave the short idea and identified the order region we wanted price to ideally visit before we see a RIP and either break through or get the move to the upside. For yesterdays FOMC analysis we saw the pattern test that we wanted price to go up to before again another reaction in price from the low which gave us another 200pips before we said we were not happy with the 4h setup, so to protect and take partials. This whole move has been calculated and analysed if you look at the KOG Report, the FOMC Report and then add KOG's morning reviews and analysis, and the icing on the cake, Excalibur.
We now stand attacking the 2000 price point which is also 4h resistance level. The long we took earlier has given a superb return, so if you're still holding leave a portion protected for higher pricing. We would like to see this try to pullback with the first level of support being the 1985-80 level and below that the level of 1970-65. We still have a higher Excalibur target which is active and we didn't take due to the structure, this level is possible for tomorrow so lets keep an eye on those support region, unless they complete the move late session.
As always, trade safe.
KOG
In the KOG Report on Sunday we gave the short idea and identified the order region we wanted price to ideally visit before we see a RIP and either break through or get the move to the upside. For yesterdays FOMC analysis we saw the pattern test that we wanted price to go up to before again another reaction in price from the low which gave us another 200pips before we said we were not happy with the 4h setup, so to protect and take partials. This whole move has been calculated and analysed if you look at the KOG Report, the FOMC Report and then add KOG's morning reviews and analysis, and the icing on the cake, Excalibur.
We now stand attacking the 2000 price point which is also 4h resistance level. The long we took earlier has given a superb return, so if you're still holding leave a portion protected for higher pricing. We would like to see this try to pullback with the first level of support being the 1985-80 level and below that the level of 1970-65. We still have a higher Excalibur target which is active and we didn't take due to the structure, this level is possible for tomorrow so lets keep an eye on those support region, unless they complete the move late session.
As always, trade safe.
KOG
🔵 FREE TELEGRAM CHANNEL: t.me/KnightsofGold
🔴 TWITTER: twitter.com/knightsofgold2
🟢 INSTAGRAM: www.instagram.com/knights_of_gold/
🟡 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.
Support: 1975 / 1970 / 1962 / 1955 / 1950
Resistance: 1985 / 1994 / 2002 / 2005 / 2018 / 2027
Price: 1979
KOG’s bias for the day:
Bullish above 1960 with targets above 1990 and above that 1997
Bearish on break of 1960 with targets below 1950 and below that 1943
Summary:
Very possible we could see Gold range up here between the levels of 1970 and 1985 before it makes it’s next move. Daily is still bullish as well as the weekly which both suggest higher pricing should be on the cards and a break of 2000. 4H needs to be kept an eye on, break of the high could take this up towards the 2025-30 level before then attempting to come back down. The FOMC move started yesterday around the 1946 level so be careful with longs up here.