XAUUSD - KOG REPORT UPDATE: BOOM!!!

End of day update from us here at KOG:

In the KOG Report we said there is likely to be an undercut low which can bring us into this level here where the price can find support. As you can see the move played out nearly perfectly, again giving us a pip capture on which was through the roof, just on Gold. We managed to catch Silver, GJ and Oil in Camelot too!

The move seems like its lost a bit of momentum now so any buying should be with caution, sensible lot sizes and a risk model in place. Please don't trade these moves on Gold with no SL! We're happy with what we've got so far and with FOMC tomorrow we'll wait to go long, if we do. Daily close is important and a close below 1750 is not a good sign. If you caught the move with us as we illustrated then please don't give anything back by getting stuck in longs now. Wait for confirmation, the market always gives you a chance!

We'll be back tomorrow with the FOMC KOG Report.

As always, trade safe.

KOG