KOG Report FOMC: What to look out for!

KOG Report FOMC:  What to look out for!

KOG Report FOMC:  What to look out for! - 1

https://www.tradingview.com/chart/XAUUSD/vnkW7Vje-XAUUSD-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.

We’re going to keep this one brief today as we’re not really interested in trading this on the intraday levels. Instead, we want to wait for key levels to break and act as support or resistance, or we want key levels to get hit where we can test the entries for the longer trades. As you can see we’ve hit the lower level we wanted on the KOG Report which was published on Sunday leaving the higher levels still open. We can still see some movement up to come, however, how low can they swing it if they want to before we see the rise at least to target the 1900 level.

So here are the two scenarios we will be looking at for FOMC and potentially during the course of tomorrow, unless anything changes. We’re going to use the 1HR chart with the 4HR Key levels, so it makes it easier to follow the price.

Scenario 1:

They push the price up from here, the first level we want to look for a reaction in price is the 1890-95 price point. This is where there could be an opportunity to short the market down into the 1850-40 price region. We will then be looking around 1830-25 for a grab and potentially this could represent an opportunity to then trade this back up to where the price broke out from and maybe higher. Breaking the 1890-95 level then we're looking at 1914 and above that 1930-35.

Scenario 2:

They push the price down, its likely they will swoop just below the 1850-45 price level and then attempt to recover the price back up to target the 1900 level and potentially beyond. Breaking the 1840 level will likely mean they will hit our 1835 target where again we will likely see a reaction in price to potentially take the long trade.

In Summary:

We have the levels of 1830-25 below and we have the levels of 1925-35 above. If they really want to move the price they can move it to either of these extreme levels. The best option on funds like this is to sit out, wait for the to target the levels, let the price show signs of exhaustion and then take your entry. Trying to catch this up and down in high volume high volatility is potluck, you’ll either get it right or you’ll get it wrong.

Hope this helps in preparation for FOMC. 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.

Knights of Gold

Knights of Gold

-Technical Traders of Precious Metals and Currencies. specialist in Gold. -TradingView Top Author #XAUUSD