End of day update from us here at KOG:
This morning we were expecting the order region to bounce and were looking for the price to target that 60-63 area in Camelot. For that reason we suggested taking a majority of the shorts off the table at the support region which we posted above for all of the free members as well. Looking back now, that was a great exit on the shorts and a great opportunity for the long trade if you held above the 63 level and above.
Support now turns to 70-75 region with NFP tomorrow which is likely going to cause more choppy and whipsawing price action. Tread carefully or don't step in at all, markets are very aggressive so your risk model and lot sizes are really important.
This morning we were expecting the order region to bounce and were looking for the price to target that 60-63 area in Camelot. For that reason we suggested taking a majority of the shorts off the table at the support region which we posted above for all of the free members as well. Looking back now, that was a great exit on the shorts and a great opportunity for the long trade if you held above the 63 level and above.
Support now turns to 70-75 region with NFP tomorrow which is likely going to cause more choppy and whipsawing price action. Tread carefully or don't step in at all, markets are very aggressive so your risk model and lot sizes are really important.
As usual, the trade comes after the event, best practice for new and less experienced traders is to come back to the markets next week after they have moved the price.
https://www.tradingview.com/chart/XAUUSD/66NpnruH-XAUUSD-KOG-REPORT/
The KOG Report has been published on TradingView. Please do support the free channel by hitting like/boost on the idea 🙏
The KOG Report has been published on TradingView. Please do support the free channel by hitting like/boost on the idea 🙏
TradingView
XAUUSD - KOG REPORT! for FX:XAUUSD by KnightsofGold
KOG Report:
In last weeks KOG Report we said we would be looking for the lower support region to hold up the price and felt an opportunity to long the market would be on the cards, first into the 1950-55 order region and above that 1980-85 for the extended…
In last weeks KOG Report we said we would be looking for the lower support region to hold up the price and felt an opportunity to long the market would be on the cards, first into the 1950-55 order region and above that 1980-85 for the extended…
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Invite link:
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There is an option to contact us on the the website if you have any queries
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Knights of Gold (Gold/FOREX Analysis/Trade ideas)
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.
End of day update from us here at KOG:
This 60-62 level is important today, we need to see if they close the price below it with the 50-55 level being key level support, which again will need to break for this to go lower. You can see their accumulating pending a breakout, so please don't get stuck mid-range, use the highs and the lows published to trade in between. Would say if 50-55 is held then that 67-75 region is looking good for the longs. It's not clean so there will be a whipsaw, one way, then the other, then the opposite so please be careful.
This 60-62 level is important today, we need to see if they close the price below it with the 50-55 level being key level support, which again will need to break for this to go lower. You can see their accumulating pending a breakout, so please don't get stuck mid-range, use the highs and the lows published to trade in between. Would say if 50-55 is held then that 67-75 region is looking good for the longs. It's not clean so there will be a whipsaw, one way, then the other, then the opposite so please be careful.
Quick update for all of you. Based on the KOG Report levels and plan, this is what we've done so far. Yesterday we were looking for a low lower than where the price found support, so we looked at the charts and identified the levels.
Now, we're still sticking with the plan on the KOG report with potential for higher so as long as that 50-55 level holds we'll look to complete the plan to the upside before looking for the RIP
A lot of messages suggesting confusing, this should make it clearer for you. The levels are the levels, the targets are the targets
We didn't get the low we wanted so got in earlier for the move