Knights of Gold (Gold/FOREX Analysis/Trade ideas)
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We trade level to level. Follow at your own risk. Always use a sensible stop loss. Strictly for educational purposes, not trading advice. We are showing you what we analyse and how we trade the markets.
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Today has been smashed already. Unless we get confirmed set ups and clean PA, we're not interested in getting involved with FOMC.
We wanted that 2435-40 region but with the volume there was no set up to short it until early session. We no have resistance at the 2347 level as shown on the red box, which needs to hold price down to continue this move further. Support stands at 2430 which could give a temp bounce. We're not looking to go long today unless it's a scalp on the red boxes, otherwise, we'll continue with the plan.
Unfortunately that's the target level we wanted but wanted to get the better entry from below.
Gold had other ideas today, we can blame the 1st of the month, pre-event price action, but we've missed it.
2420-25 would have given a nice entry point and lovely capture, that support level gave the bounce though. We've had a decent run on Gold, so we'll remain patient now.
Knights of Gold (Gold/FOREX Analysis/Trade ideas)
Red boxes
That was the red box move we missed today, expecting a little lower. Wasn't to be today but we hope you caught something.
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