THE KOG REPORT XAU/USD Spot - GoldFX:XAUUSDKnightsofGoldTHE KOG REPORT: Last week’s KOG report didn’t go exactly to plan but it worked well enough. We wanted a little higher to see the reversal and then get the short, however, we only managed the first defence box before the drop which ultimately breached our RB and hit the lower target. The bounce came from the RB giving those who wanted a long trade a decent capture to end the week. A lot of choppy price action again and structure is not very clean! So, what can we expect in the week ahead? For this week we’re going to keep it simple! I have the lower levels 4070 and below that 4050-55. If we can hold that during the early part of the week we would be looking to go long here with the potential of 4154 and 4170 as the initial targets. The first hurdle here is 4140 which is the bias level and that will need to break to go higher. In my opinion, it’s going to be another week of chop and change price action with price playing immediate levels and short term trends so we’re going to have to stick with level to level trading again this week. When the market gives, take. When the market looks like it wants to take, give as little as possible. RED BOXES: BREAK ABOVE 4130 for 4140, 4144, 4153, 4165 and 4175 in extension of the move BREAK BELOW 4110 for 4104, 4098, 4080, 4072, 4065 and 4055 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