In scenarios like this where the price action looks uncertain its best to trade it level to level and have a strict stop loss policy in place. Excalibur gave us a long signal which has now hit its target, we do know that after an Excalibur target is hit it usually pulls back a bit so keep an eye on that support level below. If 1802-5 acts as resistance today then its likely this will come back down to test the low and potentially open up the lower levels of 1750 and then the KOG target of 1720. For now we’ll take longs for the retracement and short capture, however, we shall remain short on this unless it breaks 1830 and holds above it. Its Friday so try not to enter any trades after the US session unless the setup is there, which we will share with you if it arises. Don’t get stuck in trades over the weekend, we want to see how this weekly candle closes today and ideally start Fresh on Monday.
https://uk.tradingview.com/chart/XAUUSD/H1qa1AoR-XAUUSD-KOG-Report-Daily/
KOG Report has been published on TradingView. Please do give us a like 🙏
KOG Report has been published on TradingView. Please do give us a like 🙏
TradingView
XAUUSD - KOG Report - Daily for FOREXCOM:XAUUSD by KnightsofGold
Gold experienced extreme selling pressure during the last part of the week. As we highlighted in last week’s report, we were expecting the bearish move to happen, however, we didn’t expect it to flush the buyers the way it did. Unfortunately, the move caught…
This is the hourly on Gold and what could be a potential channel. Its broken the double bottom so there is a possibility for this to go down a little further during the early session. Its too late now to sell down here so our plan will be to let it find support and we'll target the higher level of 1790-95 in the short-term for retracement. At that level we'll look for an opportunity to short it again. This all depends on how this opens and how the early session price action is so lets see what it looks like in the morning.
Wishing everyone a successful trading week ahead. See you tomorrow.
KOG
Wishing everyone a successful trading week ahead. See you tomorrow.
KOG
Forwarded from Knights of Gold (Gold/FOREX Analysis/Trade ideas)
Disclaimer: We'll be posting this regularly on the group. Please remember we are not a signal service. All trade ideas and analysis shared are only our view on the markets.
Knights of Gold (Gold/FOREX Analysis/Trade ideas)
https://uk.tradingview.com/chart/XAUUSD/H1qa1AoR-XAUUSD-KOG-Report-Daily/ KOG Report has been published on TradingView. Please do give us a like 🙏
XAUUSD - Facing resistance at the above level. All MA's are starting to converge again and the price is consolidating in a tight range. Our advice to anyone trading is to trade small lots. It seems another big move is on the horizon and as we know with gold it likes to shake out traders. We would expect there to be spikes both up and down in order to trigger orders and stops. 1795 is key here as breaking that up will force the price higher towards the 1810-15 level
We're quiet on here as we're not really taking any trades, we're more observers in this market condition as we've seen this many times, it will get traders in with large lots both ways then make the move.
Knights of Gold (Gold/FOREX Analysis/Trade ideas)
This was published on TradingView and to the members group. We''re looking a bit higher. Apologies someone didn't post it here yesterday.
If you got 1795 from the Daily analysis well done members. Nice Gold trade to be in
NOTE:
Be extremely careful trading Gold over the sessions to come. We can see some indications of a breakout on its way. Its ranged and accumulated over the week and all the MA's are again starting to converge. The custom volume indicator we use is indicating there are huge orders in this area at the moment.
Our advice to anyone with less than a years trading experience in Gold is to stay out of positions until next week. Tomorrow is the end of the week and the weekly candle close is going to be really important. We're also approaching the end of the month so there will be a lot of institutions looking to come out of positions.
Sometimes its better to let the market settle and do what it needs to, no need to always think you need to hunt for trades, remember cash is also a position in the market. You're better off holding it in your account than losing it because the market has moved against you. We're still sticking with our plan, however, we're not targeting longs into that area. If we get up to around 1810, we'll wait, assess the price action and then if we're satisfied we'll take the trade. As always, we'll share it with you.
KOG
Be extremely careful trading Gold over the sessions to come. We can see some indications of a breakout on its way. Its ranged and accumulated over the week and all the MA's are again starting to converge. The custom volume indicator we use is indicating there are huge orders in this area at the moment.
Our advice to anyone with less than a years trading experience in Gold is to stay out of positions until next week. Tomorrow is the end of the week and the weekly candle close is going to be really important. We're also approaching the end of the month so there will be a lot of institutions looking to come out of positions.
Sometimes its better to let the market settle and do what it needs to, no need to always think you need to hunt for trades, remember cash is also a position in the market. You're better off holding it in your account than losing it because the market has moved against you. We're still sticking with our plan, however, we're not targeting longs into that area. If we get up to around 1810, we'll wait, assess the price action and then if we're satisfied we'll take the trade. As always, we'll share it with you.
KOG
To put it into perspective, the last time we saw the volume indicator flash like this the price moved 2000pips (20,000micro pips) in 1 week. We're not here to just post trade ideas for the sake of it, we're here to teach and to help protect new traders from getting caught in the markets.