THE KOG REPORTXAU/USD Spot - GoldFX:XAUUSDKnightsofGoldTHE KOG REPORT: In last week’s KOG Report we wanted a similar move to the week prior where we expected price to push upside to give us a good entry for the short trade. Instead, you can see we broke the bias level on the open, that ultimately resulted in the RBD breaking below and the move completing into the target we wanted. We managed to get in on the move, but didn’t get the whole capture. We then got a tap and bounce from the lower RDB as expected and managed some fantastic long trades to end the week. A fantastic week in Camelot, not only completing all our targets on gold, but all the other pairs we trade as well. Well done to all. So, what can we expect in the week ahead? Looking at the weekly chart we’re still holding strong support at the 3950 region which could mean we need a bigger run up in order to break that region, if we’re to continue downside. For the daily, the key level here is 4050-70 order region which is a strong level of resistance. There is an extension of this move that leads us into the 4080 level which looks to be the level bulls will need to break to confirm the swing low and give us that long swing up into the 4200’s. For now, we’ll look at the 4H and the intra-day and align the key levels with the RBD’s (red box defence). Below, we have the immediate level of 3999 and below that 3990-85. This region if attacked and held could give the opportunity for the long trade with the upside level being the 4030-5 region initially, and upon that being breached, the 4050-55 region which is the daily key level. The liquidity indicator is suggesting a retracement on the open, so if we do tap into the 4030 first, we may see a reaction there for that move downside into those lower levels commence. Now the flip. It’s looking like we’re going to open higher at the moment, so if the swoop doesn’t come, we’ll use the same regions above to look for reactions to capture that short trade back down. This is where the bias levels come in handy together with the short term RBs. I want traders to zoom out and have a look at the intra-day chart. 4060 resistance seems like it’s being defended, and below 3950 looks strong. This would give us the short term range of play until one of these levels is breached and then flipped. Until then, as above, we’re looking for confirmation of that swing low and then and only then will we be looking to chose another long term direction. Are we going lower? There is a level below of 3890 we have on the radar at the moment, will it come this week, next week? Gold entails a plan of execution, but it also entails adapting to the market conditions on that day. So please trade carefully and take it level to level for now. RED BOX TARGETS: BREAK ABOVE 4035 for 4040, 4047, 4055 and above that 4060 in extension of the move BREAK BELOW 4010 for 4004, 3999, 3990 and 3985 in extension of the move 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