End of day update from us here at KOG:
We managed to get the lower level we wanted early session giving traders the opportunity to long as per the path illustrated on the chart. This trade worked well and was carried level to level where we suggested managing and protecting the trade. Hot spots worked well and the indicator gave not on direction but targets, a decent day on gold.
Now, we have support below at the 2650 region with the upper level of 2660-65 a potential level for the long trades. We already got an entry 2642 on the bounce, now we'll look above for a potential RIP.
KOG’s bias for the week:
Bullish above 2630 with targets above 2650✅, 2655✅ and above that 2667
Bearish below 2630 with targets below 2624, 2620, 2610 and below that 2604
RED BOXES:
Break above 2640 for 2646✅, 2650✅, 2659✅ and 2670 in extension of the move
Break below 2625 for 2620, 2617, 2610 and 2604 in extension of the move
As always, trade safe.
KOG