Knights of Gold (Gold/FOREX Analysis/Trade ideas)
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Kindly turned into a meme by one of the members π
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We wanted that 3275 level from below but only managed 3250-55 again. That fact that we're struggling to break above the 3255 level should entail caution now as the range continues, possibly until all the news releases during the NY session.
Support here stands at 3230 which they're trying to break with the lower levels open and a pattern in play. Now, after testing for years, we've found this pattern usually gives a false breakout to one side, gets traders in the wrong direction, then makes a move the other way.
So what do we do? We're scalping on the Red box indicator which is giving us 50-80pip trades in the range, but now it's getting a bit risky due to the pending breakout. We'll wait lower to long, or we'll wait higher to short, simple as that.
Support here stands at 3230 which they're trying to break with the lower levels open and a pattern in play. Now, after testing for years, we've found this pattern usually gives a false breakout to one side, gets traders in the wrong direction, then makes a move the other way.
So what do we do? We're scalping on the Red box indicator which is giving us 50-80pip trades in the range, but now it's getting a bit risky due to the pending breakout. We'll wait lower to long, or we'll wait higher to short, simple as that.
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Knights of Gold (Gold/FOREX Analysis/Trade ideas)
The key levels today are 3255 resistance and 3220 support. The bias level remains the same as yesterday, 3240 and as you can see we're playing either side of it, so that's a strong bias level thankfully. Red box target levels remain the same as we're stillβ¦
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We wait now for the price to exhaust, not just enter at random intra-day levels
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The longer the accumulation, the bigger the breakout, so we can't trade against it until it gives us a sign that it wants to turn. Otherwise, bearish bias level worked well as per this mornings messages, targets complete, red boxes smashed it.
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I get a lot of messages, thankfully most are great and appreciative, and really, it means a lot. Sometimes I get messages from people who are in dire straits, and honestly it breaks my heart, it makes me question this industry and what it's become. It puts a lump in my throat when they tell me about their family situation, the money they've lost, how they feel and beg for help. Most always ask me for the same thing, "Please give me your signals" or, "Please manage my account and I will split it with you".
I really don't know what to say and I don't know how to reply. I can only tell you from my own experience that spans nearly a decade, that the only way you're going to make it in this industry is TO LEARN HOW TO TRADE! We can guide you, you can follow us, we can give you the tools and everything that goes with it, but it all comes down to you. 90% of you are jumping from group to group, signal to signal then calling yourself traders. Sorry guys, you need to wake up, it's not going happen.
No course is going to teach you how to trade, just like a theory driving test is not going to teach you how to drive and a watching Barcelona Vs Real Madrid is going to make you a professional footballer. Today someone in my group blew an account, not because they followed us, but because they didn't read the analysis stating we would not trade the range and wait for the breakout. The breakout came, and as you can see above in the videos, the trades came short completing the bias level targets and the red box indicator targets. I gave that trader the indicators that generate the signals, the EXC targets, the LiTE targets, the guidance on what I'm doing and yet he still blew his account because he ignored them and followed his hope. That's how hard this game is! Honest truth, if you're sitting there thinking "signal, enter" then calling yourself a trader, you're in a bubble that is going to burst so badly, your ego is going to be writing cheques your butt can't cash!
I really don't know what to say and I don't know how to reply. I can only tell you from my own experience that spans nearly a decade, that the only way you're going to make it in this industry is TO LEARN HOW TO TRADE! We can guide you, you can follow us, we can give you the tools and everything that goes with it, but it all comes down to you. 90% of you are jumping from group to group, signal to signal then calling yourself traders. Sorry guys, you need to wake up, it's not going happen.
No course is going to teach you how to trade, just like a theory driving test is not going to teach you how to drive and a watching Barcelona Vs Real Madrid is going to make you a professional footballer. Today someone in my group blew an account, not because they followed us, but because they didn't read the analysis stating we would not trade the range and wait for the breakout. The breakout came, and as you can see above in the videos, the trades came short completing the bias level targets and the red box indicator targets. I gave that trader the indicators that generate the signals, the EXC targets, the LiTE targets, the guidance on what I'm doing and yet he still blew his account because he ignored them and followed his hope. That's how hard this game is! Honest truth, if you're sitting there thinking "signal, enter" then calling yourself a trader, you're in a bubble that is going to burst so badly, your ego is going to be writing cheques your butt can't cash!
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Knights of Gold (Gold/FOREX Analysis/Trade ideas)
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We still have the support region below which is untouched as yet, so a pull back could be on the cards. So far so good, entries from below working, red boxes confirming the move. That's what it's suggesting at the moment so lets see if we can get it.
These are just confirmations of the move now, anything long should ideally be from the lows.
These are just confirmations of the move now, anything long should ideally be from the lows.
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Knights of Gold (Gold/FOREX Analysis/Trade ideas)
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That's around 60-70pips, more than enough
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