Quick update:

Ranging in progress with the 2735 price holding us upside giving us the target we wanted 2745 in yesterdays report. We now have support below 2740 which needs to break with resistance 2750 which could be the potential range until the US Session.

Due to the range we can only scalp on the indicators so we'll update again later on if there are any changes. For now, no bias, let's wait for the breakout, if it comes pre-event

Support held, red box confirmed and boom! High volume candle with 2747.12 open target

We're in from the activation protected. Support now stands at the 2744 level which needs to break to go lower

End of day update from us here at KOG:

Following on from the KOG Report on Sunday, we said we would use the report until Wednesday which is when we will release the KOG Report FOMC.

So far, we've managed to capture the move down completing the bearish targets, we got the bounce from the level we wanted and then the long trades upside which we traded on the red boxes. We back above the bias level which is now on the flip but we haven't attempted the break of 2770 yet to confirm higher. For that reason, we would suggest caution on the markets into the close and tomorrow where we're likely to see ranging and choppy price action until the FOMC statement. We have support below at 2550 and resistance 2665 which is a decent target for the close in our opinion.

Please do support us by hitting the like button, leaving a comment, and giving us a follow. We’ve been doing this for a long time now providing traders with in-depth free analysis on Gold, so your likes and comments are very much appreciated.

As always, trade safe.

KOGhttps://www.tradingview.com/chart/XAUUSD/3bxBhEbT-THE-KOG-REPORT/

FOMC today. Wait for the price to go where they want to take it, look for a clean set up, then enter the markets if you wish to trade.

The most amount of money is lost and accounts are blown during FOMC and NFP because traders are trying to capture the volume driven candles with large lots. They also get stuck in pre-event price action during the ranging and chop without using SL's. This is a recipe for disaster, large lots, small accounts, it only take s a small spike to blow your account. This is not trading, this is gambling!

Tonight the casino is open, the drinks are free to entice you, only you can have that discipline to sit and wait patiently for the right moment.

FOMC, dealt with