THE KOG REPORT - NFP Cont'dXAU/USD Spot - GoldFX:XAUUSDKnightsofGoldTHE KOG REPORT: In last week’s KOG Report we said we would stick with the plan from The Jackson Hole Symposium. If you remember from the previous report, we said that based on the backtest, the move tends to find a temporary low and then begin a correction. It was for that reason we highlighted the lower level of defence, which did stretch a little but gave traders that long trade for a phenomenal capture. On Friday, we released the NFP Report and again, as you can see, that level we gave below at the hot spot gave traders the correction we anticipated and then bounced for another fantastic move upside. What a week in Camelot, the pip capture was enough for a couple of months and moves played just the way we anticipated. I’m pleased with that, and why shouldn’t I be! So, what can we expect in the week ahead? For this week, again, rather than posting the usual KOG Report chart, we’re going to stick with the NFP Report chart for now, but we will post the 4H levels as well. I’m looking at the levels and I’m seeing a huge hurdle above and below, which means we have potential here for some extremely choppy price action until the FOMC meeting which is still over a week away! Below, we have the level of 4390-95 which can be retested here and in my opinion will need to be broke to go lower. If we can attack that level during the first few session of the start of the week, the opportunity to long there can be possible for bulls. Above, we have the level of 4440-50 which is where the defence box is also sitting. On Friday, that level failed to close above, so on open, if we do gap down or, open downside, it’s that level that needs to break above to then go and complete the move we had highlighted on Friday’s NFP Report. This is based on the NFP moved, so please do look at the KOG Report 4H chart as well as the weekly chart for the swing levels. Please do support us by hitting the boost 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, education, targets and indicators on Gold, so your likes and comments are very much appreciated. As always, trade safe. KOG