Whats to come? We can see another push up towards that 1818-20 level where we would hope it finds resistance again. Our range is 1809 to 1816/18, accumulation like this before a big news release (NFP) is likely to cause a big break out in Gold . Bulls are looking for 1900 and bears are looking for 1700. What a coincidence, we're consolidating near enough in the middle of both price points!

Please trade safely, ideally with smaller lot sizes than usual and with a stop loss in place.

KOG

KOG members traded a lovely Silver trade today. We're still holding 30% with the stop to entry.

And Gold!!! Lovely entry for KOG members

Quiet day for us here at KOG. We're taking it slow before NFP tomorrow. As usual we'll be publishing our NFP projection and trade idea pre-event. Until then trade safe, trade light and make sure you have a strict risk management plan in place. We'll be back tomorrow. KOG

NFP Today. We'll be scanning the markets before the event looking for clues. We'll share our projections and ideas here just before the release.

Looks like Gold is making some moves pre-NFP to get both sellers and buyers into positions, this tells us that there could potentially be an aggressive move to come.

Excalibur has given us a long indication on DXY and USDJPY so we need to be careful as both have room to go down first to give entries or go up first and crash down!!

We're looking for two scenarios here on Gold:

Scenario 1:

IF this goes down first towards the 1790-85 level we'll look to take a long position targeting 1808-10 as the first destination. At this level we'll most likely take a large portion of the trade of the table and move the stop to entry to protect it.

Scenario 2:

If this goes up from here to around the 1808-15 level we'll look to short the market towards the lower levels of 1790 and below that 1775-70. At 1790 we'll take a large portion of the trade of the table and move the stop to entry.

We have a key level of 1823-26, this is a crucial price point for Gold as closing above it can lead the price to gather more gains ta

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Yesterday we said we were expecting this to go down on open, what we didn't expect was what can only be explained as total manipulation by the powers that be! Technically the chart is still adhering to the levels, but the flush would have caused some buyers and sellers serious problems.

Today, we're looking for this to hold at the 1740 level and below that around 1730. We would expect this to potentially go and target the the higher levels of 1770 and above that 1785. Having said that, we're not trading it. We would rather wait for the price to settle and stay away from getting caught in another flush. As we said, institutional selling doesn't usually stop in one day so lets play it safe troops.

1730-40 is key here, breaking this level will likely lead the price to suffer more declines and target that lower wick on the 4H chart again taking with it all the buyers

XAUUSD Update:

We're taking 50% partial profit here and moving leaving the stop where it is

First target hit. We're going to take another 20% here, stop to entry and leave it to run now

If you followed make sure you protect this trade and take partials on it. Next level up is 1770, support is 1750 and below that 1740-35.

Trade carefully members. If you're in long from below then make sure you take partials and protect the trade. Wait for support levels to hold if you're think of going long again. This really isn't the right place to go long as we could see lower support break and target 1735 levels. Use our levels which are shared and make sure you're trading smaller than usual lots sizes with a risk management plan in place.

Just as we thought yesterday, Gold declined towards that 1740-45 level to gather enough momentum to come back up and break the 1750 price point and close above it. Today we would look for a similar scenario, it looks like the price is starting to exhaust around this level so a potential move back down towards 1750-45 could be on the cards. Holding above this level would most likely lead the price to gain more momentum to go further up towards the 1770 target that we have.

As always, trade safe.

KOG