Can not say this enough!! Charts are moving in their directions but don't let anyone tell you trading this is easy!! Markets are EXTREMELY rough and aggressive!
Lots sizes and money management are very important if you want to survive these conditions
Knights of Gold (Gold/FOREX Analysis/Trade ideas)
Daily close is really important. Close below and we open up those lower levels like we said in the KOG report.
The lower target is open on Gold which is also the the trendline resistance level. Its very likely Gold will want to target this level.
If this level breaks the bull run is over. We have FOMC tomorrow so expect there to be movement today before the price settles into a range ready for FOMC. This isn't the time to try and catch the big move with big lot sizes, you can see they're going to make sure they stretch the buyers out before they move the price. Retail is going to get caught in this move so money management and risk management is key to being able to play this during this time.
KEY SUPPORT LEVELS:
1797-5
1783
KEY RESISTANCE LEVELS:
1805
1822
1835
1797-5
1783
KEY RESISTANCE LEVELS:
1805
1822
1835
Knights of Gold (Gold/FOREX Analysis/Trade ideas)
https://www.tradingview.com/chart/XAGUSD/iBnsIJPw-XAGUSD-Update/
Silver - This chart has moved exactly how we intended however concerning it has been. Excalibur is indicating some more movement down on this so we'll follow the path. Support lies just below where these is a potential bounce on the horizon.
Knights of Gold (Gold/FOREX Analysis/Trade ideas)
Silver - This chart has moved exactly how we intended however concerning it has been. Excalibur is indicating some more movement down on this so we'll follow the path. Support lies just below where these is a potential bounce on the horizon.
NOTE: This isn't the time to go short on Gold or Silver. The moves have happened, now is the time to be patient and wait for both pairs to find their intermediate support levels
There is indication of a move upwards, how far though we don't know yet. The problem is we have FOMC tomorrow so if they really want to make buyers sweat they can hold the price down here below 1795 and just consolidate.
Again, as we've been saying, very difficult market to trade, please trade this carefully. Our honest opinion is to sit this out until after FOMC.
We'll be back tomorrow with our usual FOMC KOG Report and update on our plan and if we will be taking any trades.
Knights of Gold (Gold/FOREX Analysis/Trade ideas)
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We have a lot of news today that will move the markets, thats before FOMC which is later on. Markets are going to be extremely turbulent and choppy. The best trade plan during a day like this is honestly to sit it out. Let the market play out and let them move it to where they want to move it, once its settled and returns to some form of normality thats when you get back in. We're taking it easy today, won't be trading much at all. We'll share the FOMC KOG Report later today with our thoughts.
KOG Report for FOMC has been published on TradingView. Please like and support, everyone here who has followed our Gold, Silver and Oil analysis will have been on the right side of the markets, please show your appreciation by hitting like 🙏
Today will be a bit different, we won't be sharing any trades we're taking as we won't be trading the event. Please be safe in these markets, they're not done with retail traders yet.