KOG Report – FOMC
This is our view for FOMC today, please do your own research and analysis to make an informed decision on the markets. It is not recommended you try to trade the event if you have less than 6 months trading experience and have a trusted risk strategy in place. The markets are extremely volatile and can cause aggressive swings in price.
Gold has made a significant move from the 1800 region down to here now looking to target the 1750-55 region. We suggested earlier in the week that the 1775 level was important and a close below it would target the 1768 and below that 1760 price points. For FOMC we’re only looking again for the extreme or key levels to potentially take the trades rather than try to catch the move on the volume driven candles. That’s if this hasn’t been priced in already, in which case we’ll see another anti-climax FOMC like the ones we have witnessed recently.
So, we have indications of the lower level being targeted and we also have a target above on Gold! The first level which would be ideal is that 1750-45 region, a rejection there with confirmed support would in our opinion represent an opportunity to go long with the targets being the higher resistance levels. We have a weak target around the 1780 region so this could be its destination.
A move to the upside and we’re not interested in the lower resistance levels at the moment. They could represent opportunities to short, but we would suggest caution and say please make sure you have a reliable risk model in place. Breaking these levels to the upside will take this up to target that 1800 region again, potentially targeting at least 1806-10. This higher level is where we will be waiting to potentially short the market again to target the lower support levels.
In summary:
Above 1745-50 we’ll look long. Breaking that level and it’s a not go!
Below 1806-10 we’re looking short, breaking that level is a no go.
Levels to watch for reaction, 1775, 1785, 1795. Possible turns as illustrated on the chart taking this down then back up. Not something we want to get involved in.
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.
KOG
This is our view for FOMC today, please do your own research and analysis to make an informed decision on the markets. It is not recommended you try to trade the event if you have less than 6 months trading experience and have a trusted risk strategy in place. The markets are extremely volatile and can cause aggressive swings in price.
Gold has made a significant move from the 1800 region down to here now looking to target the 1750-55 region. We suggested earlier in the week that the 1775 level was important and a close below it would target the 1768 and below that 1760 price points. For FOMC we’re only looking again for the extreme or key levels to potentially take the trades rather than try to catch the move on the volume driven candles. That’s if this hasn’t been priced in already, in which case we’ll see another anti-climax FOMC like the ones we have witnessed recently.
So, we have indications of the lower level being targeted and we also have a target above on Gold! The first level which would be ideal is that 1750-45 region, a rejection there with confirmed support would in our opinion represent an opportunity to go long with the targets being the higher resistance levels. We have a weak target around the 1780 region so this could be its destination.
A move to the upside and we’re not interested in the lower resistance levels at the moment. They could represent opportunities to short, but we would suggest caution and say please make sure you have a reliable risk model in place. Breaking these levels to the upside will take this up to target that 1800 region again, potentially targeting at least 1806-10. This higher level is where we will be waiting to potentially short the market again to target the lower support levels.
In summary:
Above 1745-50 we’ll look long. Breaking that level and it’s a not go!
Below 1806-10 we’re looking short, breaking that level is a no go.
Levels to watch for reaction, 1775, 1785, 1795. Possible turns as illustrated on the chart taking this down then back up. Not something we want to get involved in.
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.
KOG
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🟡 Disclaimer: Not financial advice. For educational purposes only.
🔴 TWITTER: twitter.com/knightsofgold2
🟢 INSTAGRAM: www.instagram.com/knights_of_gold/
🟡 Disclaimer: Not financial advice. For educational purposes only.
