Note to members:

You don't need to catch every move. Don't get stuck here, it is possible we will retrace back up a little but it's the end of the month and and a Friday, it's really not worth getting stuck in trades. We've reached our target but can see lower pricing on Gold. Give us an opportunity to evaluate the data and analyse the markets before we commit to a new direction. As we've said, we caught it down, now we want to catch it back up but when the time is right

We're done for the day, week and month. Hope everyone has had some benefit from the analysis and ideas on the group.

The chart above shows the levels to look out for as key support. We're not going to enter any more trades today, rather wait until Monday or Tuesday to get back into the markets.

Wishing all our members a good weekend. See you on Sunday evening for market open where we'll share next weeks analysis.

Knights of Gold

We’ve approached a key juncture here, it’s the bottom of the trendline on a long term timeframe so we would expect there to be a lot of buyers entering the market here. We’ll look at the shorter timeframes to get a clearer picture but we see a high possibility of the price retracing back up a little to our key resistance levels. We wouldn’t be surprised to see a small short spike down at some point during the day to trigger some stops then the retracement to commence. We're still bears longterm and expecting the price to go lower before a bigger retracement higher.

Support:

1730
1710
1691
1676
1645

Resistance:

1755
1762-65
1790

Clean break of the symmetrical triangle. Now what we don’t know is if the 1816 level was the retest of the break and couldn’t be sustained. If not, then that is a possible the we will revisit the 1820-30 level as a possible target for bulls.
This area is of interest to us on the daily chart as it presents an ideal short opportunity for lower price levels. We’re still bearish on this timeframe, we’ll take short quick longs but the shorts are what we’re after again.

Support:

1720
1702
1680
1642

Resistance:

1747
1764
1777-85
1806

If this channel is valid then we’ve broken back within it. That would make the break up around the 20th an FBO or a bull trap. We can see that liquidity area above and now there’s demand below around 1665.
Again, on this chart we would expect a short spike down at some point and then a resumption of the retracement.

Having said that….. Gold is not giving bulls a chance at the moment, and when it moves like this its very possible we can go straight down to lower levels without retracement. We will have to monitor this on the 1H timeframe once the market is open.

Support:

1718
1709
1692
1668

Resistance:

1737
1756
1771

Week ahead analysis. All levels and potential targets are there. We'll wait for market open and review the 1H TF before taking any trades. We're not ready to become bulls yet, we'll remain short in this market from what we can see.

Wishing everyone a successful trading week ahead.

Welcome to all of the new members. Please refer to yesterdays analysis for key levels and potential movement in Gold. Looks like it could be a bit of a ranging day unless equities open gives us a bit of boost. We have a lower level of 1720 and a higher level of 1757. No trade idea to share at the moment apart from what we shared yesterday.

This is not a signal.

Looks like we're going to range here for the rest of the day. We're waiting for one of these levels to break, our bias is to the downside based on the 4H chart where we're expecting a test of last weeks low. We'll look to test the long from around that region based on support.

We're going to stick with this chart today. If you took the long at the bottom we're at a minor resistance level now. We're anticipating a short rise to around 1736-40 and from there we think we're going to break 1700 at some point.

As always, when we decide to take the position we'll share it with you all

TIP:

Mondays always try and analyse the markets, try not to trade. Fridays, make sure you try and come out of any trades you've been holding during the week. Its best not to trade after the US session unless you're in the right way and your trades are protected. First two-three days of a new month, take it really easy. Let the market finds its rhythm and create a structure. This will save you a lot of money

As we anticipated, this is the move upwards. Keep an eye on this level. There's a chance it can break up if we don't get a good bounce off. Level above is around 1745 and then 1750 which is a key level. Breaking and closing above 1740 is a sign we are going a little higher.

Rejection at the zone. We need to break the 1725 level down for this to resume its trend. Support here and its going up further towards our levels identified earlier. Gold is moving just as expected.

Lets keep an eye on 1722-25

We're waiting for the 3pm candle to open. Hopefully we get a bit of a retracement to give us a good entry for this trade.

We'll take it in two stages, first TP at next support where we'll take 50% of the trade and move the stop to just below our entry. Will let the rest run.

We want something like this to happen for the rest of the day. Waiting for the 3pm candle to open, if we break back up again above 1725 then this trade is invalid.

to be clear, we haven't entered yet. We're waiting for a retracement to the mentioned level. STRICT STOP LOSS AND SMALL LOT SIZE

We're entering here with tiny lot. If it breaks up above 1727 we'll cut the trade with a small loss.

We're done for the day. That trade didn't go to plan, as we said, small lot strict SL, minimal loss. Price looks like its going to continue upwards at the moment. We'll be back tomorrow with a trade idea

good thing is its left a price for us to target. We'll see what it does tomorrow, if anything we'll get a better entry on the trade.

Wow! Over 500 members in such a short period of time and we're still trending at number 1 XAUUSD authors on TradingView. Thank you everyone for your likes and support 🙏