THE KOG REPORT - FOMC

31 juliTHE KOG REPORT – FOMC

This is our view for FOMC, 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 these events can cause aggressive swings in price.

A great week so far on Gold with our targets completing and the path working out how we hoped. We’re now just above that order region we wanted attempting to break above, so for this report we’ll keep it simple.

Price rejects above in the 2435-40 region, potential for this to pullback all the way into the 2400 region, unless broken. That lower region is where we would potentially be looking to buy in again.

Price pushes down, we’ll be looking in that region for a move upside. We have immediate support below 2415 which could be tapped but needs to cross below, otherwise, we’re likely going to hover up here, spike and then make the move.

Wouldn’t recommend trading the event, we’ve done our trading for the day. Best to wait for the move to finish and then look for the entry from a decent level.

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As always, trade safe.

KOG