Knights of Gold (Gold/FOREX Analysis/Trade ideas)
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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.
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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.
Protect it, take partials, manage your trades if you followed
Gold - 2005 expected for the RIP, 250pips so far
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End of day update from us here at KOG:
As suggested in yesterdays update, the upside support of 1910 on hold was crucial for this to complete the high before any attempt of a pullback. KOG's bias gave the levels of 1930 and 1943 which are now complete as well as the extension target of 1957 which completed in Camelot. Right now, too late in the session to test the levels as there could be news over the weekend which can cause another glitch on the chart on opening so we'll close off here for the week. Close is important, if they really want to drive it then the levels of 1970-75 are the next order regions. Support now stands at the 1945-50 level and below that 1935 with the bias still bullish above 1910.
