Level to level, point to point trading
Any shorts from the top have been protected and partial profits taken. Now we'll look for a strong support level below to go long
Knights of Gold (Gold/FOREX Analysis/Trade ideas)
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We haven't moved the circles. The move was timed to perfection
Its a very messy chart on Gold. Tricky price action to get into any more positions. We're holding the shorts from yesterday with partials taken and stops to entry. Any entries around here would be tiny lot sizes as a break either way can be an aggressive move. If our shorts close at BE we'll look to get back in higher up.
Immediate support and Resistance levels for your charts.
1H - We've just broken out of the triangle and the price is trying to target the lower support. We're waiting for the 4H close to see if we can break and close under the 1860 level. You can see there is a target above but the market will want you long as high up as possible before they move it away so be careful where you enter.
We would suggest 10-20pip trading in the coming session, a quick in and out as the swings are likely to trigger SLs unless you're trading with large SLs.
1H - We've just broken out of the triangle and the price is trying to target the lower support. We're waiting for the 4H close to see if we can break and close under the 1860 level. You can see there is a target above but the market will want you long as high up as possible before they move it away so be careful where you enter.
We would suggest 10-20pip trading in the coming session, a quick in and out as the swings are likely to trigger SLs unless you're trading with large SLs.