https://www.tradingview.com/chart/XAUUSD/w7RxCNBW-THE-KOG-REPORT/
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THE KOG REPORT for FX:XAUUSD by KnightsofGold
THE KOG REPORT:
I last weekβs KOG report we said we would be watching that 2340 extension level for a move upside in the early part of the week, and if achieved we would be looking to short the market back down initially into the 2310 level which is whereβ¦
I last weekβs KOG report we said we would be watching that 2340 extension level for a move upside in the early part of the week, and if achieved we would be looking to short the market back down initially into the 2310 level which is whereβ¦
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.
You lot size needs to stay within the boundaries of your account size, it's as simple as that. Small lots, good risk management and better captures. The 95% that fail are oblivious to risk management and trade management. It's nice to see what we teach and implement in Camelot, together with the targets make a huge difference to our traders.
So far we're in long, 2300 tapped as first region of interest. We now need a forceful break above here to complete the move but for now, happy with the trade so far.
Knights of Gold (Gold/FOREX Analysis/Trade ideas)
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As per the report, first trade was a nice one into the resistance level. Second trade as a bonus up to our target level in Camelot, we're going to stop at 99.9pips (only because we can) BE and let's see if we can complete the move. Support stands at 2305, resistance 2318
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This goes for everyone. FOMC and CPi on the same day this week, it's going to be choppy and they will want to gather enough orders to move the markets again. This move isn't finished yet, it's only a short swing, so lets play the game safe while the market is out to get us!
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Forwarded from Knights of Gold (Gold/FOREX Analysis/Trade ideas)
KOG, how does the daily bias work? We share the daily bias based on the structure of the market and the analysis for the that day only. It's based on Excalibur and it's indications of market movement.
But you're long and the bias is short! Yes, bias can work both ways, it can give you levels to target for the opposite trade, for example, bearish below level is 2020, that means our algo's are telling us that price region is possible. So rather than wait for the level to short it, we'll apply the analysis to trade it towards the level and then look for the reverse trade.
But you're long and the bias is short! Yes, bias can work both ways, it can give you levels to target for the opposite trade, for example, bearish below level is 2020, that means our algo's are telling us that price region is possible. So rather than wait for the level to short it, we'll apply the analysis to trade it towards the level and then look for the reverse trade.
β€1
No news today. Looks like we're preparing for tomorrow's events, so choppy conditions to come during the next session. It's a small range, try and refrain from trading it mid-range.