Conclusion
Given the above narratives still playing out, the ECB meeting will likely be a non-event today. However, some pressure on EUR/GBP could still see the euro move around on any quibble that could mess with positioning as the technicals are stretched.

Adding to that, Lagarde may also have to address the Bloomberg report earlier this week on the ECB intervening to limit the yields spread in the bond market. That will perhaps the more interesting issue to look forward to in the press conference later today.

*Source - ForexLive

Gold is testing support again

15Min

Tight stop loss. Small lot. Target 1855

Please be sensible with your stop loss if you're following. If you're already in shorts we would suggest you don't add any more entries. Manage the trades you have

Modified. Target 1858

Stop moved to entry

We're taking 50% profits here with a 25pip (250pip micro) gain. Stop moved to entry so we're risk free

Good evening everyone.

We're switching of for the day. Our entry is still open, we've taken 50% profits and set the stop to entry. You can close it here in profit or let it run with a view that it will likely hit it's stop. If you entered with us you should be safe and in overall profit even if it hits the stop, which is at entry.

Again Gold is playing hardball, choppy price action on smaller timeframes and erratic movement. Seems to have settled until tomorrows open. It's left a couple of concerning price targets, one which is at 1885 and one at 1854. This suggests to us tomorrow will be a day of quite a bit of movement.

As always, please trade safe and manage your trades responsibly.

See you tomorrow,

Knights of Gold

P.s thanks again to everyone who contributes and shares ideas on the group chat. It doesn't go unnoticed 👍🏼

Good Afternoon.

We're not around much today. Our short from yesterday worked well, we banked 50% and made the trade safe. Unfortunately we didn't manage to catch this mornings move down. Wasn't in our plan though so its ok!

This is what we're looking at right now on the 15Min chart, support is at 1838. We're waiting to see if it supports and we may test a long trade towards 1850.

Please wait for the next chart.....

This is our 4H chart. You can see a lower support at around 1820. This is a key area, breaking this level will force the price lower.

Our plan wasn't to trade much this week, we've taken 2 trades both profitable. With all the news going on it wasn't worth getting stuck in the wrong direction.

Our plan for now. Momentum is strong, if we do not get a strong support below we'll sit out and close up for the week. Our lower targets are still active, please see the charts from earlier in the week. As per yesterdays message, Gold gave a clue to the movement it will make today, we had price targets of 1854 or thereabouts which is done now.

Note to people in the group chat:
Please try not to trade with momentum, the market will trap you and make you uncomfortable. Look at the way we traded this week, we waited for the top, took an entry, banked and protected it with. Then sat out. We took what we wanted from the market then let it do what it wanted to.

This is our message from earlier in the week. Please add these levels to your charts, we'll give you some more to add later on

The ultimate target is that 1750 level, we want to make sure we get a good entry and catch that trade. I don't think the market is ready for it yet though. Patience is key.

Our plan is to remain committed to the direction of shorts for now, any longs we take will be quick captures, in and out

Note to members:

Hope you're all benefiting from the ideas and analysis on the group. As you're aware it's a free group and we want to try to help as many traders as possible by showing them how we trade and analyse from our experience in the markets.

Please share the group with your fellow traders and friends who are interested in trading. We're nearly at 200 members in a short period of time so we thank you for your support and following.

Knights of Gold

Its still not a confirmed Long trade. This is why you wait. Lets see if it retest and supports again. Equity markets open in 20mins, they could push it down further to fill the wick from earlier in the week

Can still get 50pip. Tight stop loss