THE KOG REPORT - Update

그저께

End of day update from us here at KOG:

Following on from the FOMC trade plan where we managed to get the extension level we wanted and the long for a phenomenal capture upside into the order region we wanted. We then activate short, currently running from the above protected and expecting it to hit target over the coming sessions. To be honest, for Gold, that is us done for the week unless there are decent setups on the red box indi's.

For now, support is holding at 2590 so we would expect a move upside in attempt to close above the 2600 level with a potential retracement into 2603-6. It here we want to see a RIP and then a continuation of the move downside unless we break above the extension level 2630.

It's a crazy market but it's giving, so please don't try and milk it now, it's Friday tomorrow and they will want to take back what they've given. Time to play defence!

As always, trade safe.

KOG