Before we go. We're out of all trades now, start fresh again next week. Its a good idea to try and start every week with a clean sheet.

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https://uk.tradingview.com/chart/XAUUSD/Wh81bPjy-XAUUSD-Daily-KOG-Report/

KOG report for the week ahead has been published on TradingView for those who want an early preview.

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We'll share the 4H on here later today. As usual we won't know how we're going to play the market until it opens and we can see what the hourly structure looks like.

Wishing everyone a successful weeks trading ahead.

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Reminder of Support and Resistance levels. Please add them to your charts.

Refer to the NFP chart. First support is at 1886, 2nd is at 1873.

We haven't been around today. Back tomorrow as per normal.

Gold is showing more signs of bullishness over the start of this week with a breakout of the immediate consolidation we saw in the early Monday Asian session. We have some indication of more bullish movement to come with Excalibur giving us two targets above and one target below.

The ideal scenario here would be for the price to come down to the support levels and then continue with the rise this time breaking the 1900 level leaving the target below. In this scenario we will look for resistance above around 1920-25 and then short towards the 1860s level.

The second scenario here is for the price to come down towards the 1860 level, hit our KOG target and then resume the bullish move upwards towards the upper KOG levels. At the moment 4H is showing us support level or around 1885 which we should see act as a strong support so our bias is more towards scenario one for now.

We have broken down the range into a box and given the support and resistance levels along with the zones we are looking at. Ad

.....Add to that the KOG targets for Gold and this should give you enough to have a trading plan for the day.

We will update as we go along. As always, trade safe.

Todays levels

Those who haven't read the daily report. This is the move so far.

Excalibur has indicated a long target above. We're now looking for this to find some support around here or below to target the level above

XAUUSD - 1H

Very unpredictable price action on Gold the last few days. Its tried beating the high and failed, now challenging the support level below again. 4H is still giving us bullish signs so this could potentially be grabbing some liquidity from below to then continue the rise.

We don't have many fundamentals this week apart from CPI tomorrow. Our key support stands at the 1874 level where (if it gets there) we would expect a reaction. Breaking this level will force the price lower towards the 1860-50 price points. We have 3 targets on Gold identified by Excalibur which we would expect to be met. Remember Excalibur targets also work well as reversal zones so trade these with caution as also use them as support and resistance together with the levels we have provided.

Right now we're limiting our exposure on the markets as there seems to be some form of breakout imminent across the pairs we look at. Lets stick with the chart above for now unless anything changes.

XAUUSD -

Key levels:

Support:
1889
1886
1882
1873

Resistance:
1896
1903
1906
1910
1916

GBPUSD -

Taking a majority of the trade of the table around here. Protect the trade if you're in.

Quick update on Gold from us. Because of where we are price wise we've decided we're going to stay away from longing Gold at the moment. Instead we're looking to remain with our short bias and only look to take longer positions in shorts rather than longs.

If we do reach the Excalibur targets above we'll look to short from there instead of targeting that level for long trades. Gold seems like it has a curveball in store so lets wait patiently and see what it does in the coming sessions.

If you're looking to take longs please use the levels provided as support zones. Try not to catch the whole move rather take partial profits along the way and protect your trades. Always use a stop loss and sensible lot size.

This is what we're looking at today. The lower KOG target has't quite been reached so we're looking for some more selling pressure to come down towards the support level below. We're going to look to take a small long entry at this level with the stop shown.

The levels are the same as are the targets.

As always, trade safe,

KOG