Give yourself room in these market conditions. Big lot sizes don't allow you to do that, especially on Gold. As traders we have to adapt to market conditions

Trade this level to level. Don't think you'll get a clean run the way they're moving it. We want to start going long on Gold but don't feel this is the right time at the moment

Apologies, we've missed out the 1750-48 support level on this chart. Its too late to edit it but please add that level to your charts.

So the support levels:

1777
1775
1765
1750
1748

Key resistance 1795-7. Break above this level look for 1805-7 and above that 1814-17.

Key support now stands at 1788-5. Break below that level look for 1777, 1775.

All the levels are on the KOG report and posted just above

Its the last day of the month and we have a Powell testimony. Couldn't make this up. Trade safe, trade small and expect the unexpected.

Remember, adapt to the market conditions, this isn't the time to be trading big lots unless you're scalping.

About an hour to go for this. There's a huge chance he's going to say something that will move the markets. When it comes to news like this the levels will always be respected, however, its the volatility that they cause that get traders in a mess. We also have NFP tomorrow and another Powell testimony so even more madness to come. Ideally the best thing to do in scenarios like this is either trade small or just stay out of the markets. Let them move it to where they want to move it and once its found a strong support or resistance thats when you take your positions. This not only protects your against the manipulation but in most cases gives you a better entry for your target

We said they would manipulate it to make sure they hit stops. If you're in protect this trade, a smaller lot would have allowed you to handle that reversal

We're not going long on Gold

Not yet anyway. We'll share the idea when we do. If we miss the entry we miss it, we're waiting lower down though

TIP:

There's nothing wrong with testing levels as we all suffer from FOMO. We have to use it to our advantage though, when you feel like you're missing the chance to get in reduce your lot size, so much so that if the price goes against you you can close that trade and still get a good nights sleep. If it goes your way, you're in and can always add to the trade

KOG Report published 07/11/21

30/11/21

Power of Excalibur

Month end at KOG. Hope everyone here learnt something and had a successful month.