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Knights of Gold (Gold/FOREX Analysis/Trade ideas)
https://www.tradingview.com/chart/XAUUSD/lWn7SfFh-THE-KOG-REPORT-Update/
We're at the resistance level on Gold but price is hovering here, with support now playing the 2365-70 level and as long as we're above we could be looking at the higher level on the chart. Today, no longs on Gold, we'll wait and see what it does.
He's spending his time going through all the resources and trading tips before he jumps in with the targets and the Red box strategy
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Big order region here now and price is simply accumulating, we would call this a no trade zone, hence we're sitting and watching. We do have a target, but we're not going to take it today, we want to see how this behaves. Support on the intra-day 2390, resistance 2407
Missed 1, missed 2, 3rd time lucky. That's trading and that's how it works. In regions like this its very difficult to plot the moves with a lack of historical data. We did say give or take either side. Not only did we trade it up, but that level worked a treat.
The perfect entry:
Many of us sit and wait for the perfect entry, I can tell you, unless you're scalping, this hardly ever happens. The key to get an entry is identifying your target region first! Once you have identified that target region, then start looking not for a precise entry, but a region or a zone you want to be testing your entry in. The skill is not getting in too early, and if you get in too late you're usually going to be the wrong side of the market. So use the bias and the red boxes, bullish/bearish above/below. If it breaks a level and that level turns into support/resistance, what's the worst that will happen? It will hit your SL, you just wait for the trend to confirm and go the other way, or, you wait for another entry with a SL in place. When the target is a long way away, your lot size is important, the RR will make sense even with a larger stop.
Many of us sit and wait for the perfect entry, I can tell you, unless you're scalping, this hardly ever happens. The key to get an entry is identifying your target region first! Once you have identified that target region, then start looking not for a precise entry, but a region or a zone you want to be testing your entry in. The skill is not getting in too early, and if you get in too late you're usually going to be the wrong side of the market. So use the bias and the red boxes, bullish/bearish above/below. If it breaks a level and that level turns into support/resistance, what's the worst that will happen? It will hit your SL, you just wait for the trend to confirm and go the other way, or, you wait for another entry with a SL in place. When the target is a long way away, your lot size is important, the RR will make sense even with a larger stop.