FOMC TODAY:

Pre-event price action:

Trend within trends on the smaller timeframes

Patterns that conflict each other - You may get a H&S but with that is a double bottom for example. They do this intentionally to get traders committed to the wrong direction

Ranging price staying close to short term MA's

Swings and spikes all of a sudden - This is a stop loss hunter activation taking liquidity from the high and low of a potential range

Ask yourself these questions:

Do I understand intra-day levels?
Do I understand pre-event price action?
Do I understand trading with ranges and price accumulation?
Do I have a risk model that protects me and my account no matter where the price goes?

The most amount of money is lost and accounts are blown during FOMC and NFP because traders are trying to capture the volume driven candles with large lots. They also get stuck in pre-event price action during the ranging and chop without using SL's. This is a recipe for disaster, large lots, small accounts, it only take s a small spike to blow your account. This is not trading, this is gambling!

Tonight the casino is open, the drinks are free to entice you, only you can have that discipline to sit and wait patiently for the right moment.

With the spikes it's difficult, but every other day you can see how powerful these boxes and hot spots are

Done. See you tomorrow 💥

Students generating their own signals and trades with the indicators. That's him done for the day

Point to Point, level to level 👍

Support on Gold 3630-5 with resistance 3665.

Camelot Friday today. We've had another phenomenal week of capture and targets complete. It's Friday, please take your foot off the peddle now and prepare for next week. Triple Witching day today as well, so expect some volatility late session.

Wishing you all a great weekend and thank you for following. Please do take some time to go through the ideas on Tradingview and hit the boost button.

KOG

Knights of Gold (Gold/FOREX Analysis/Trade ideas)
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Knights of Gold (Gold/FOREX Analysis/Trade ideas



KOG