This is what we're looking for today. Gold has opened up higher levels by breaching a key resistance. We want to see support around 1830-25 before taking this long trade. We will be targeting 1855 as our first destination and potentially 1865 after that.
This all depends upon successful support below. Breaching 1830 and holding below it will invalidate this idea.
This all depends upon successful support below. Breaching 1830 and holding below it will invalidate this idea.
Looks like we'll be waiting for US and Equities to open for this to make its move.
We're done for the day. Just incase we're not back in time tomorrow before this moves. This is what you're looking for. 1836 breaks, look for 1830 to support, support there and resistance at 1836 its likely forming a H&S and will break the trend down. In this scenario the trade idea we posted earlier is invalid.
If we continue to get support around these levels and break up above 1836, we're likely going to go for the 1855-65 levels as per our trade idea earlier today. The concerning thing is we've left a gap at that level above which makes me think the move a little higher isn't done with yet. They're just shaking out buyers and sellers. Around 1865-75, thats where we're looking to short it.
Hope that helps. See you tomorrow.
As always, trade safe.
Knights of Gold.
If we continue to get support around these levels and break up above 1836, we're likely going to go for the 1855-65 levels as per our trade idea earlier today. The concerning thing is we've left a gap at that level above which makes me think the move a little higher isn't done with yet. They're just shaking out buyers and sellers. Around 1865-75, thats where we're looking to short it.
Hope that helps. See you tomorrow.
As always, trade safe.
Knights of Gold.
Knights of Gold (Gold/FOREX Analysis/Trade ideas)
This is what we're looking for today. Gold has opened up higher levels by breaching a key resistance. We want to see support around 1830-25 before taking this long trade. We will be targeting 1855 as our first destination and potentially 1865 after that.…
Trade complete
Dear Members: We're thinking of closing the chat group down as there isn't much participation on there. If its of benefit please let us know, otherwise we'll close it on the week.
This is the chat group, not the main broadcast group.
This is the chat group, not the main broadcast group.
Anonymous Poll
88%
Yes keep it open
12%
Close, broadcast is sufficient
Sitting neutral at the moment, waiting for one of the levels to break. Simple chart today, pretty self explanatory.
No positions in Gold at the moment, we're still bears in this market expecting decline at some point. Something tells me there's a spike up towards 1865-85 on the cards. That's the level we're waiting for to test the short.
No positions in Gold at the moment, we're still bears in this market expecting decline at some point. Something tells me there's a spike up towards 1865-85 on the cards. That's the level we're waiting for to test the short.
We can tell gold is going to breakout. If you remember our accumulation chart from a couple of weeks ago, price is doing the same thing. Getting buyers in, stopping them out, getting sellers in and stopping them out.
Tip: In scenarios like this it's about quick captures, 5-15pips and exit the trade. Use the levels we provide on the charts. Until the markets picks it's direction at least.
Tip: In scenarios like this it's about quick captures, 5-15pips and exit the trade. Use the levels we provide on the charts. Until the markets picks it's direction at least.
Gold broke out as we anticipated and closed below the key level of 1830. 1821 support and 1830 resistance are levels to look out for now. On market open, if we get a retest of 1821/22 and it supports we'll take a small long with tight stoploss and target the 1830 level. The plan here is to enter the long, once it's in profit and above 1825 set the stop to just above entry. We want to see if it resists at 1830 or breaks back up above it. If it breaks up we'll let that trade run towards 1850-65.
On the flip side, now that we've closed below 1830 we could get the move down we've been looking for. Next support is 1810, 1800 and then 1793. Our overall target of 1750 still stands, we just didn't get the entry we wanted.
On the flip side, now that we've closed below 1830 we could get the move down we've been looking for. Next support is 1810, 1800 and then 1793. Our overall target of 1750 still stands, we just didn't get the entry we wanted.
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Knights of Gold (Gold/FOREX Analysis/Trade ideas)
Lets see if we can finish the pattern off. Looking for this to resist around the 1826-30 level and then sell again during the US session.
If this hits 1810 before going up then we won't enter this time. We'll look for another trade
Knights of Gold (Gold/FOREX Analysis/Trade ideas)
If this hits 1810 before going up then we won't enter this time. We'll look for another trade
Lets not get sucked into this move. If we get the entry above we'll take it. If it hits below and we miss it then so be it.
Knights of Gold (Gold/FOREX Analysis/Trade ideas)
Lets see if we can finish the pattern off. Looking for this to resist around the 1826-30 level and then sell again during the US session.
Taking 50% and setting the stop to just below entry
We don't really want to hold this over the weekend. The move happened very late in the day