FOMC overview. Please do hit the like button.

Its advisable to sit this one out. If you do trade it please make sure you have a risk strategy in place and use a smaller lot size

We've tried to break the 1H down as much as possible without making it look messy. You can see the range we're playing in, ideal for scalping, however, if you're looking for a swing trade its probably not the best of ideas. We have a small declining trend line creating lower highs and also an inclining trend line which on the 15M chart is forming a possible symmetrical triangle. As we said, the only way to trade it is either to scalp the support and resistance levels as well as the trend, or wait for the break out and then get in for the move.

What we would expect is for this to break one way and get buyers or sellers in and then do the opposite to make its move. Breaking above resistance and its likely we'll see the 1810, 1825 levels. Breaking below and we'll likely see the 1760 and 1740 levels below that.

We're sitting neutral at the moment as the markets across most pairs are looking like there is something on the horizon.

We've added the 15M chart below so you can see the smaller time frame symmetrical triangle.

15M for those who like scalping

KEY LEVELS

Dear members. KOG report has been shared on TradingView. Please do give us a like 🙏

We'll be back tomorrow with our trading plan and trade ideas.

Stay safe this week, a lot of high impact news all week especially with the Jackson Hole Symposium as well. The ranging and consolidation won't last, expect Gold to make a move.

Use the levels, use the charts and trade safely.

See you tomorrow.

KOG

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Gold has broken out of the consolidation as we expected. What we didn't get however is the pull back we wanted towards the 1770 levels to get a good entry for the long trade. Now we've also broken out of the daily trendline resistance we can expect there to be more bullish momentum tomorrow. Excalibur has been working well for us with most of the targets being hit. We have one above!!

Plan for tomorrow. We can see some support around the 1795 level and resistance around the 1810 level. We're looking for this to exhaust a little and hover around here on close. If it does we will test the short tomorrow but only look for the 1790-95 levels initially. If we find support at 1790-95 levels we'll then test the long trade again targeting higher pricing. This is based on what we're seeing at the moment. IF it changes we will update as usual.

We've been patient with Gold during August waiting for the right opportunity to short it. We still don't think we're there yet!

Please follow the levels on the charts. Next ke

We're going to narrow this down to the smaller timeframes and give you a better idea of what we're seeing. We'll share the plan tomorrow. Please use the above as reference. KOG

We were expecting Gold to come down towards the 1790-95 level which it has done. We saw this level as a potential level for a move back up, however, Jackson Hole starts tomorrow, so its likely Gold will range here for a while. There is a lower level just below here where we could see a small drop towards which is located around 1785-87. This level is key, the price needs to stay above this level to resume the bullish movement we're expecting.

We would rather this go up first so we can sell it as that wick from a few weeks ago needs to be filled.

The sell is the better trade but entering here would mean a huge stop loss. You would need to be able to stretch to 1830+ if it makes the move.

We've traded Gold long enough to know when to observe it and trade it very lightly, we would advise those following us to do the same.

Jackson Hole starts tomorrow so there is likely to be volatility across the markets for the 2 trading days to come, there will also be a conference on Saturday so if you're holding trades over the weekend make sure you have a stop loss and TP placed before market close. You've seen how it can open and move from the get go, so please protect yourselves.

We've added the 4H chart below. Here you can see the trend and the wedge that has formed. We're sitting at the bottom so a break here could entail more selling on Gold , we will need to observe this as the last thing we want to do is get stuck in a FBO.

Gold update. The 4H wedge has broken and this is the area where they will want to trap the FOMO sellers. If this is a FBO you don't want to get stuck in this pre-Jackson Hole.

1H - With main support and resistance levels plotted. Please use the levels, use the trends and structure.

This needs to break 1788 to the upside and close aggressively above it.