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.

If you’re trading an account size:

Less than £500:
LOT SIZE – 0.01 with a MAX LOT SIZE OF 0.03 AT ANY GIVEN TIME - You need to pick your trades and pick your entries carefully. Your risk needs to be low, however, a 0.01 lot size will give you flexibility when the market goes against you.

£500 – 1000:
LOT SIZE – 0.02-0.03 with a MAX LOT SIZE OF 0.06 AT ANY GIVEN TIME – You need to pick your trades and pick your entries carefully. Your risk needs to be low, however, a 0.02-0.03 lot size will give you flexibility when the market goes against you. Split your entries and take partial profits along the way until your target is reached. E.g Enter 0.03, when you reach 10-15pips take 0.02 in profit and set the stop to entry, let 0.01 run to the target with the trade protected.

£1000 – 1500
LOT SIZE 0.05-0.07 with a MAX LOTS SIZE OF 0.10 AT ANY GIVEN TIME - You need to pick your trades and pick your entries carefully. Split your entries and take partial profits along the way until your target is reached. E.g Enter 0.05, when you reach 10-15pips take 0.03 in profit and set the stop to entry, let 0.02 run to the target with the trade protected.

£2000+
LOT SIZE 0.05 – 0.15 with a MAX LOT SIZE OF 0.17 AT ANY GIVEN TIME - . Split your entries and take partial profits along the way until your target is reached. E.g Enter 0.07, when you reach 10-15pips take 0.05 in profit and set the stop to entry, let 0.02 run to the target with the trade protected.

Too many traders get stopped out and blow accounts because their lot sizes are too bit. A small reversal on the pair and panic sets in because a high percentage of the account is in drawdown. They take the loss and the market ends up going their way in the end. This is not the way to trade! You will make money but ultimately you will face huge losses on your account. The market is designed to play with your emotions and your greed, you need to use this to your advantage. The only way to protect yourself is money and risk management, it’s a fundamental tool and skill required to trade.

REMINDER:

Addition:

If this goes up towards the 1830 level don't be in a rush to short it. It could be a continuation of the bull run all the way back up towards 1875-85. The key here is to go long at the extreme low and go short at the extreme high.

On events like this it needs to spike, leave wicks, not big bullish or bearish candles.

Looks like the release is already priced in. Now they'll wait for the Q&A session

Not much going on today unless you're in GBP pairs. There is a US holiday so volume will be fading out. We'll stick with the FOMC plan for now.

We had opposing targets on Gold and Silver which is rare (apart from a Gold one below). This could simply be institutional buying on Gold taking it up to drop it again

We need to be careful with this move. The entry for this was below as we suggested on the KOG report. Its not really a good idea to get caught going long up here as we're hitting a resistance level which has held strong in the past

Before:

After:

USOIL - This has got to be the trade of the month.

If you're still in Oil make sure to take some profits

Thats the first target for longs on Gold.

This is where we take a majority of profits and move the stop to entry

We now look for resistance here or a break above the level