Knights of Gold (Gold/FOREX Analysis/Trade ideas)
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We trade level to level. Follow at your own risk. Always use a sensible stop loss. Strictly for educational purposes, not trading advice. We are showing you what we analyse and how we trade the markets.
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KOG
Last week in Camelot 💥
We had levels in mind on the KOG Report, support where we wanted to go long into resistance which came a little earlier than expected. The levels 1950-55 was given as the first level which worked well and completed the target we had to the upside. We were then looking for the short into the region on the chart, which again, gave a little bit of a stretch but the order block helped keep us on the short side then completing the target to the downside
So what now? We would expect the usual pre-event chop and whipsaw with some news later so expect some spikes. Order region 50-55 needs to break to the upside with key level now the order region 30-35 below. We should see some ranging start soon so expect them to bring the mean closer and prepare for NFP on Friday. We're going to suggest level to level trading now, not looking for big captures as we've already smashed the week in Camelot.
We'll share a mid-week plan later today
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See you tomorrow for the NFP KOG Report