Protect it, take partials, manage your trades if you followed
End of day update from us here at KOG:
As suggested in the KOG Report yesterday we wanted to see it tap into that higher level before testing the short trade back down into the first level of 1970 initially. The structure remains bullish with the higher levels open, however, we were anticipating the pre-event price action in the early part of the week which so far seems to be clean. The RIP gave a nice move to the downside and it is suggested now traders protect and take partials on their trades.
As suggested in the KOG Report yesterday we wanted to see it tap into that higher level before testing the short trade back down into the first level of 1970 initially. The structure remains bullish with the higher levels open, however, we were anticipating the pre-event price action in the early part of the week which so far seems to be clean. The RIP gave a nice move to the downside and it is suggested now traders protect and take partials on their trades.
Knights of Gold (Gold/FOREX Analysis/Trade ideas)
USOIL - TAP AND BOUNCE 💥
USOIL - Anyone in this please protect it
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End of day update from us here at KOG:
A nice move on Gold completing the two Excalibur targets we identified on Sunday. As suggested, if you can leave a runner with an open TP on it and stop to entry, let's play the game the way we see it, up and down the KOG way. We now have immediate resistance around the 1960-65 level which should provide the retracement needed on the move but that level is key! Pre-event price action is in full effect so expect this to start the range in preparation for tomorrow's FOMC.
GOLD, AUDUSD, Oil, GJ, AUDJPY all ran nice and clean giving a huge pip capture for the day, so well done team on a great performance. Let's take it easy now and await what tomorrow brings with it. Will share the complete market analysis tomorrow across our main trading instruments so probably no morning review tomorrow.
A nice move on Gold completing the two Excalibur targets we identified on Sunday. As suggested, if you can leave a runner with an open TP on it and stop to entry, let's play the game the way we see it, up and down the KOG way. We now have immediate resistance around the 1960-65 level which should provide the retracement needed on the move but that level is key! Pre-event price action is in full effect so expect this to start the range in preparation for tomorrow's FOMC.
GOLD, AUDUSD, Oil, GJ, AUDJPY all ran nice and clean giving a huge pip capture for the day, so well done team on a great performance. Let's take it easy now and await what tomorrow brings with it. Will share the complete market analysis tomorrow across our main trading instruments so probably no morning review tomorrow.