We're done for the week. Our long trade is still running as above. Hope you all have a good weekend, We're back on Sunday for the week ahead analysis.
Last week we suggested a level of 1760-65 is our area of interest. This week we will remain with a short-term bullish outlook as long as the price stays above 1735-40.
We can see we’re retesting the breakout of the trendline which runs from May 2019. We have a higher zone of 1790-95 on this chart which could be a possible target and also a turning point.
We’re at a strong resistance level here so opening and the first part of the week should be interesting.
Support:
1735
1720
1708-3
Resistance:
1750
1775-77
1790-95
We can see we’re retesting the breakout of the trendline which runs from May 2019. We have a higher zone of 1790-95 on this chart which could be a possible target and also a turning point.
We’re at a strong resistance level here so opening and the first part of the week should be interesting.
Support:
1735
1720
1708-3
Resistance:
1750
1775-77
1790-95
Looks pretty bullish short-term. We want to see this challenge the 1745-50 area and see what sort of reaction we get. Based on the weekly we could support around 1740-35 and then break up towards 1760-65 as the first target and then 1775 or there abouts for the second target.
We will keep this in mind when the market opens and look for clues on the hourly as to which way we think it will go first.
If we’re correlating with DXY then we should see some bullish movement through the day.
Support:
1740
1735
1726
Resistance:
1750
1762
1767
1775
These are just our views, please use this analysis as such. As always, trade safe.
We will keep this in mind when the market opens and look for clues on the hourly as to which way we think it will go first.
If we’re correlating with DXY then we should see some bullish movement through the day.
Support:
1740
1735
1726
Resistance:
1750
1762
1767
1775
These are just our views, please use this analysis as such. As always, trade safe.
KOG REPORT:
We're going to see how this opens later and what the hourly suggests to us. At the moment, we're remaining bullish on this until we see clues its going to turn. We can't see 1800 happening just yet but can see this getting close. We'll keep the positions we have opened below and maybe even add on Monday if we get strong support.
See you tomorrow.
Merlin.
We're going to see how this opens later and what the hourly suggests to us. At the moment, we're remaining bullish on this until we see clues its going to turn. We can't see 1800 happening just yet but can see this getting close. We'll keep the positions we have opened below and maybe even add on Monday if we get strong support.
See you tomorrow.
Merlin.
No daily chart today, our outlook on that hasn't changed much. Just to be clear, we're still bearish on this but short term bullish.
We'll trade what we see level to level. If you've followed we were in the right way of the market all the way down and you should be in the right way during this move up. When the time comes we'll short it for our lower targets. Looking forward to another successful trading week with all of you.
We'll trade what we see level to level. If you've followed we were in the right way of the market all the way down and you should be in the right way during this move up. When the time comes we'll short it for our lower targets. Looking forward to another successful trading week with all of you.
We're still holding the long from below, the move down just missed the stop at 1727. For this to move up we need a close above 1737 which should then turn to support
Knights of Gold (Gold/FOREX Analysis/Trade ideas)
We're still holding the long from below, the move down just missed the stop at 1727. For this to move up we need a close above 1737 which should then turn to support
We're going to hold this trade in the hope for 1750-55 where we'll take the exit if it gets there
We're moving our stop to entry just incase it spikes down
Dear Members, our sincere apologies, we posted a trade idea on TradingView and thought we had posted it here as well! Unfortunately no one sent it on here.
We're looking for 1733-35 to act as support now and we're going to add to our long position. The previous position has the stopped moved up to 1727 and we've banked 75% of it.
Only if support is successful!! First target will be around 1746 with the 2nd being 1755. AS LONG AS IT SUPPORTS! Small lot with a tight stop as its accumulated enough so the break out could also open a trap door to lower levels.
We need to be careful as gold could be following a similar fractal to last week
Only if support is successful!! First target will be around 1746 with the 2nd being 1755. AS LONG AS IT SUPPORTS! Small lot with a tight stop as its accumulated enough so the break out could also open a trap door to lower levels.
We need to be careful as gold could be following a similar fractal to last week
We have to be really careful with this one hence we've added a small lot to a trade that is already running. The market has accumulated enough and is ready for a breakout. As you've experienced so far with gold, it likes to hit stops and then continue its journey so there is still potential for this to spike down if its going to go back up!
As always, its just our view. Always be sensible with your lot sizes and use a realistic stop loss. This is not the market to hold trades
As always, its just our view. Always be sensible with your lot sizes and use a realistic stop loss. This is not the market to hold trades
A big welcome to all the new members of the group. Thank you for your support, likes and follows on all the platforms. If you like what we're doing please share the group with your fellow traders and those who are interested in trading.
We're done for the day. Trades are running, if you entered the last idea please manage this trade accordingly. If you're holding the previous one as well that one is risk free. We want the 2nd one to be the same.
We're done for the day. Trades are running, if you entered the last idea please manage this trade accordingly. If you're holding the previous one as well that one is risk free. We want the 2nd one to be the same.
Knights of Gold (Gold/FOREX Analysis/Trade ideas)
We're looking for 1733-35 to act as support now and we're going to add to our long position. The previous position has the stopped moved up to 1727 and we've banked 75% of it. Only if support is successful!! First target will be around 1746 with the 2nd being…
Taking 50% and moving the stop to break even on this one. Let's secure it over night.
We're taking another 25% profits on the second long position. That's a total of 75% on both trades now closed
Now the market can do what it wants. We're hunting another trade
4H Levels and trend. We're sitting at what could be the bottom of the trend. Remember trends can never be exact but give us a good indication of what's going on.
Current support 1737
Current resistance 1740
Tight range again, the market is getting ready for a breakout so lets wait and see.
We're still holding our longs from below which we have protected. DXY is looking strong but there's nothing to stop them moving in the same direction.
Current support 1737
Current resistance 1740
Tight range again, the market is getting ready for a breakout so lets wait and see.
We're still holding our longs from below which we have protected. DXY is looking strong but there's nothing to stop them moving in the same direction.