THE KOG REPORT - Update

2 בדצמ׳

End of day update from us here at KOG:

We wanted higher to short in to those lower levels, however, the market had other ideas and from open we got the move down. Our red box activated support at 2620-22 which gave us a extremely decent trade back up into the 2650-55 region where we then suggested the swing can form and we can short. This trade is active and managed right now.

It's a difficult intra-day range to call unless you're scalping the levels, otherwise, they're not going to let you hold long term trades without large stop losses. We have key level support 2635 and resistance above 2665-70, 2670 being the level we wanted. We will say the bias level is still active but the stretch is up into the 2660 price point. We would like to see a clean reversal on the 4H to go lower, otherwise the range continues to play with support and resistance.

Keep an eye on that 2625 level, above there we're likely to go a little higher, take liquidity and then get another chance to attempt that short trade. For us, unless we get higher pricing we'll play it intra-day for now on the Red boxes and Excalibur.

As always, trade safe.

KOG