THE KOG REPORT - Update (Accumulation in progress)

5月7日

End of day update from us here at KOG:

A quiet day today only allowing the red box scalping strategy to take effect while price ranged and accumulated through the day. Yesterday we said we would like to see this go higher into the 2330-35 region which was close and again was rejected. Our bias level target shared today was 2310 which was hit, with the bias level being bearish below 2327 which also held price.

So, what now?

We would like to see price attempt to break this 2310 level and continue with the move we've been suggesting from the KOG Report. Having said that, you can see price is accumulating orders and pending a breakout, so we won't be discounting another attempt at that the 2335-40 which is within the range! For now, 2310 support needs to break, 2325-7 resistance needs to break, or we continue to accumulate and we'll hopefully see the breakout tomorrow.

Plan still remains, anyone short from above, protect and take partials.

As always, trade safe.

KOG