RED BOX worked well as defence giving us the opportunity to short. We were expecting a test of the high and then another attempt, however, we managed to hold and hit the target level for the short. The bounce has given those who wanted to long a nice trade as well this session.

Now support 2850 with resistance above 2860-65, 2865 needs to break to go higher as per the red boxes

HOT SPOT ON FIRE!

Emotional Control:

Managing emotions is crucial for success in trading. Nearly 90% of a trader's success hinges on keeping emotions in check during market volatility.

Risk Management:

A well-defined risk management plan is essential. Traders need to determine how much risk they're willing to take for a certain profit.

Strategy Consistency:

Sticking to a strategy is important. Constantly changing strategies can lead to confusion and losses.

Entry and Exit Points:

Predefining entry and exit points before initiating trades can help reduce emotional decision-making.

Research:

Analyzing historical data, technical indicators, and market conditions is vital for making informed trading decisions.

Discipline:

Successful trading relies on sticking to a trading plan and maintaining discipline, regardless of market emotions.

There are 6 categories above, out of that Discipline, Risk management, and emotional control are the only things that I have no control over. I can teach and show you the strategy, I can do the research, and the Red boxes (which are my levels on an indicator) can show you entry and exit points. The rest is up to you, work on the things I can't teach you and the things I can teach and show you will become apparent

Red Box indicators:

Many of us sit and wait for the perfect entry, I can tell you, unless you're scalping, this hardly ever happens. The key to get an entry is identifying your target region first! Once you have identified that target region, then start looking not for a precise entry, but a region or a zone you want to be testing your entry in. The skill is not getting in too early, and if you get in too late, you're usually going to be the wrong side of the market. So, use the bias and the red boxes, bullish/bearish above/below. Most new traders struggle with basic support and resistance or identifying zones; hence they’ll usually enter the market at the wrong time and place. This is where red boxes are really helpful, you can use them to identify key regions if you’re scalping or use the higher or lower ones for day trading and managing trades in-between.

KOG’s Red box and Knights indicators are part of our strategy and are added to our targets to further fine tune our entries and exits. We also use them combined with our hotspots and Excalibur/LiTE targets to keep us in the right direction of the markets, allowing us to trade between the levels, scalp in ranges or in low volume periods as well as identify possible turning points on the pair we’re trading.

Look at the indicator. Screaming SHORT ME

Done for the day team. No end of day today as it's NFP tomorrow and we'll release the NFP KOG Report prior to the event. Please make sure to visit our TradingView profile and hit BOOST on as many ideas as you can, it really helps with motivation and continuing to post free update and targets for the wider community. KOG

NFP:

Try and be out of trades or at least protect those running. If you're new to trading or less experienced, know that these events are known to blow the most accounts because traders think it's exciting to trade it! "If trading excites you, you're doing something wrong". Money in your account is also a position in the markets!

Wait for the price to go where they want to take it, look for a clean set up, then enter the markets if you wish to trade.

The most amount of money is lost and accounts are blown during FOMC and NFP because traders are trying to capture the volume driven candles with large lots. They also get stuck in pre-event price action during the ranging and chop without using SL's. This is a recipe for disaster, large lots, small accounts, it only take s a small spike to blow your account. This is not trading, this is gambling!

The casino is open, the drinks are free to entice you, only you can have that discipline to sit and wait patiently for the right moment.