Knights of Gold (Gold/FOREX Analysis/Trade ideas)
https://www.tradingview.com/chart/XAUUSD/UDZzT8Qj-XAUUSD-KOG-REPORT-FOMC/
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.
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
USOIL - This has got to be the trade of the month.
If you're still in Oil make sure to take some profits
Knights of Gold (Gold/FOREX Analysis/Trade ideas)
https://www.tradingview.com/chart/XAUUSD/UDZzT8Qj-XAUUSD-KOG-REPORT-FOMC/
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
And just as we're typing this its trying to break above
We're done for the week. Thank you to all the members in this group who message, comment and like our posts, it really is appreciated.
We've shared a quick update with the levels to look out for for the rest of the day, please do give us a like 🙏
We've shared a quick update with the levels to look out for for the rest of the day, please do give us a like 🙏