FOMC - In our honest opinion the best way to trade this particular FOMC is to not trade it at all or trade it with small lots that allow you to move with the price without panicking if the price goes against you. We have a way to trade these events so will be sitting back on this particular one and observing until we feel the market is at the right level to get into any positions.
In any case, here is the KOG report for FOMC. Please do give us a like π
And please traders....Be careful in these markets.
Very difficult to target these levels guys. If this doesn't move at 7pm they'll be waiting for the press conference at 7:30pm
Thank you to all those who comment and like our posts. It doesn't go un-noticed. π
Right members, thats the initial response to the FOMC release. Now they'll wait for 7:30 for the press conference
They'll be looking for clues on interest rates, inflation etc. Expect more movement to come
Now we have a long wick on Gold which needs to get filled at some point
Knights of Gold (Gold/FOREX Analysis/Trade ideas)
Excalibur for FOMC over performing π₯
Now when you add the KOG reports to the Excalibur targets and KOG zones this is what you get!!
Quick Tip:
Draw levels, draw lines, draw patterns and make sure you're always charting. Something will stick out and you'll notice how this works. You don't have to trade, most of us sat this out but its nice to see how the analysis plays out and when it does what you thought it would do. Our one request to all of you, the more you chart, the more you practice, the more you backtest, the more you'll see you can do this and become a successful trader.
Draw levels, draw lines, draw patterns and make sure you're always charting. Something will stick out and you'll notice how this works. You don't have to trade, most of us sat this out but its nice to see how the analysis plays out and when it does what you thought it would do. Our one request to all of you, the more you chart, the more you practice, the more you backtest, the more you'll see you can do this and become a successful trader.