THE KOG REPORT - Update (The perfect flip)

23 апр.

End of day update from us here at KOG:

A decent day on the markets with the perfect example trade coming from gold. We said yesterday the ideal trade would be a move down into that support level where traders should look for the tap and bounce. We had the red boxes and that level of 2291 highlighted which gave the first opportunity together with the structure break slightly higher giving not only the 2nd but also the 3rd entry for a huge capture. These long trades should now be protected, partials taken and runners left.

So, what now?

Clean move from the low and supported in the order region, so we have now temporarily flipped with support turning to the 2317-15 region, which if held in the Asian session could give us the move we wanted in yesterdays plan completing at the 2350-55 region. What we want to see is how that level, if approached is protected, if there is a RIP there with slight extension of the move, possibility there to short it again. We will only know tomorrow!

For now, support holds we go further up. We're in from the lows, happy to test resistance levels above unless we flip 2350.