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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Quick update for the NY session ahead:

I mentioned in the weekly chart report that the swing in play can cause a few problems for bulls and if it played, the move would not be worth trying to capture the lows on. Ideally, we wanted this to bounce, go up into the area of interest above then come down and hit those lower levels.

You can see the bias broke, we completed the Asia session targets and ultimately broke below defence, so no point attempting any long trades there based on the path.
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The hot spot worked well and the bias level resulted in all TPs complete, but that was not an easy trade to take overnight.

On the previous chart I have added an oval which is our new level of interest and potential for the NY session unless we get a confirmed reversal.
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The liquidity indicator is hovering below, and sentiment is not shifting so let's see what the next couple of hours bring.

Support 4140 resistance 4175
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Evening Thought:

Price is a series of tests on levels! Highs and low, if it tests a high and fails, it will test a low. Breaks, it continues, fails, it will test the high again etc

It creates trends or ranges but will always do the same thing. Once we understand this we know it's not the market that is the problem, its us, the trader. If we learn it's behaviour all we then need to do is make sure our money and risk management is up to scratch. It's never 100%, but if we test a level, it breaks, structure suggests it's going against us, don't hold on to hope, or add more in the direction you intended.

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