Todays levels.

We have a small double top on the 1H timeframe. One trend is broken to the downside, however, there is a trend within it that needs to break. We've narrowed it down to the immediate range which makes it easier to see.

FOMC this evening so please be careful when trading. We're not in any positions at the moment.

FOMC. They'll be waiting for the press conference looking for clues, yield curve, stimulus, interest rates etc. That should be in around 30mins at the press conference.

Please trade safe. Our advice, don't trade the momentum if it happens unless you're an experienced trader.

Daily. We're approaching our level from earlier in the week of around 1880. We want to see how the price reacts here, we're looking at 1873-5 for a reaction. We're not shorting it here yet, breaking and closing above this level will mean the price can go a lot higher.

4H levels. We've had the first rejection of the level but bulls are still strong. Next hourly candle is important. We want to see a retest of the level, if it breaks it it can go higher. A lot of traders will be waiting to short and the market will squeeze them, trade safely

Keep an eye on DXY. 90.318 is a key level, we're looking for it to bounce there

Equity markets open in 25mins. Expect this afternoon to be volatile. Its month end, the monthly close is important for the coming weeks.

Rejection below. Be careful here

Apologies, our messages are delayed today.

If you entered the trade and didn't bank it, make sure you take something off the table and move the stop to just below the entry so you close in profit if it goes back up

We're hunting another short opportunity soon

If we break 1856 we can correct the whole move, just like yesterday. Facing strong support at the moment

We're done for the week.

Been a profitable week, low risk, minimum drawdown and precise entries. Hope everyone benefited from the shared analysis.

Anyone still holding that sell entry please take partial profits on it and move the stop to below where you entered.

Wishing everyone a great weekend. See you on Sunday night for market open.

Knights of Gold

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4H:
We’ve had an equal high and a higher low. I would anticipate a test towards 1840 and wait for a reaction around that level.

Again, just like the Daily chart we’re in a smaller (symmetrical) Triangle formation. We have below what is not a clean Inverse Head and shoulder, price usually test the right shoulder at some point so this area is very important.

Within the range we’re taking Longs and Shorts, however, I want to see how the market moves on Monday and Tuesday before making a more informed decision on where we’re heading.

Support:
1835-37
1826-24
1816-1810
1775-1778

Resistance:
1850
1857
1872-76
1891-1895

Daily:
We’re in what could be a symmetrical triangle on the daily timeframe.

Within the triangle we’ve drawn the immediate range. We’ve been taking longs and shorts within this range, however, it looks like we’re nearing the end and a breakout is imminent.

Key Levels:

Support:
1835
1810-15
1801

Resistance:
1849
1876-1880
1895-1900

We will wait for Monday and Tuesday to get a clearer picture.

As always, please trade safe. Your likes, follows and comments are very much appreciated.

Knights of Gold