A lot of you are LONG at the moment, even though we've been saying stay short in this market so you're in the right way.
If you're LONG, look at the chart shared earlier in the week. Right now you want to see if it goes back up towards 1853-55, we're waiting for a reaction at that level. Support is 1838 and 1832
If you're LONG, look at the chart shared earlier in the week. Right now you want to see if it goes back up towards 1853-55, we're waiting for a reaction at that level. Support is 1838 and 1832
4H -
This is what we're looking at right now. We're at a stage where we can break down, 1838 is a level below that is important short term. This area could be a good LONG opportunity to target 1853-55.
If we see resistance we're looking to SHORT the market again with a target of 1838 and then 1832. At this moment, we're not in any trades
This is what we're looking at right now. We're at a stage where we can break down, 1838 is a level below that is important short term. This area could be a good LONG opportunity to target 1853-55.
If we see resistance we're looking to SHORT the market again with a target of 1838 and then 1832. At this moment, we're not in any trades
As we suggested earlier in the week, we expected Gold to go down and test that IHS from the last time we were at this price point.
Now it seems its done that we are waiting to see if we get a double bottom. If we do it looks like a good LONG opportunity towards 1845-50, if we break the level below then its likely we will visit 1820-1810. Our overall target is still 1750, however, Gold has been very choppy recently, i don't think we'll reach that target in one go. It wouldn't surprise me to see one more up leg before a move down again.
As always, please trade safe. We'll update again later in the day.
Now it seems its done that we are waiting to see if we get a double bottom. If we do it looks like a good LONG opportunity towards 1845-50, if we break the level below then its likely we will visit 1820-1810. Our overall target is still 1750, however, Gold has been very choppy recently, i don't think we'll reach that target in one go. It wouldn't surprise me to see one more up leg before a move down again.
As always, please trade safe. We'll update again later in the day.
Knights of Gold (Gold/FOREX Analysis/Trade ideas)
As we suggested earlier in the week, we expected Gold to go down and test that IHS from the last time we were at this price point. Now it seems its done that we are waiting to see if we get a double bottom. If we do it looks like a good LONG opportunity…
Dear Members,
Thats us done for the day. Gold moved near enough as we anticipated, hope you benefited from the analysis! We didn't share any trades with you today as we mostly scalped the markets again.
What to look out for:
Gold is testing a strong 4H resistance level, we're either going to bounce here upon retest or we're going to break through it. At the moment we are free of trades, we would suggest you do the same as we're approaching NFP and it seems like they're going to use it to move the market. Which way? Who knows! There's a rumour JPM are planning a big trade on the metals so its best to stay safe during the manipulation. One thing we can see is the Silver made a move higher (it usually leads Gold) but has come back to the range it started in. Gold hasn't followed yet!
Tomorrow, we're expecting this to either break 1830 and make its move pre-NFP and price it in, or slowly range here between 1830 and 1845 in preparation for NFP.
As always, trade safe.
Knights of Gold
Thats us done for the day. Gold moved near enough as we anticipated, hope you benefited from the analysis! We didn't share any trades with you today as we mostly scalped the markets again.
What to look out for:
Gold is testing a strong 4H resistance level, we're either going to bounce here upon retest or we're going to break through it. At the moment we are free of trades, we would suggest you do the same as we're approaching NFP and it seems like they're going to use it to move the market. Which way? Who knows! There's a rumour JPM are planning a big trade on the metals so its best to stay safe during the manipulation. One thing we can see is the Silver made a move higher (it usually leads Gold) but has come back to the range it started in. Gold hasn't followed yet!
Tomorrow, we're expecting this to either break 1830 and make its move pre-NFP and price it in, or slowly range here between 1830 and 1845 in preparation for NFP.
As always, trade safe.
Knights of Gold
We'll update you tomorrow with our trading plan and ideas. Have a good evening all.
Please note. We are very close to 1800. It wouldn't surprise me if it tests this level
IF YOU FOLLOW THIS TRADE, USE A SMALL LOT
Knights of Gold (Gold/FOREX Analysis/Trade ideas)
Looks like this could be a good level to test a Long entry, the stop is quite big for my liking but theres a level below that we think it might spike down to. The stop is below that level so its shouldn't hit. Not holding this long term, just the levels on…
Set the stop to just above the entry, lock in the profit.
If it resists at 1818, take 50% profit there and let the rest run. We're looking for 1829 to be safe
Everyone that followed. Your trade should be safe now. We're not taking anymore trades today, NFP tomorrow so we're expecting more volatility. Our advice is to do the same and ideally wait until Monday when all the noise is over and done with.
If anything changes, we'll update you this afternoon GMT.
If anything changes, we'll update you this afternoon GMT.
We're going to start looking for clues in around 15-20mins. If a trade looks good we'll let you know. No positions in at the moment.
DXY is hinting that it might go down a bit which should mean a spike up in Gold. Usually on funds like this it will go one way first then go the opposite way. Remember, now a lot of buyers have been stopped out and sellers are getting confident in the price to drop further down. Doesn't mean it won't go further down, we're still looking for 1750 levels. Just won't be an easy ride as we've seen so far.
Ideally, if you're a new trader, less than 6 months experience don't trade NFP. Wait for the move to happen if it does, let it settle then look for your positions.
DXY is hinting that it might go down a bit which should mean a spike up in Gold. Usually on funds like this it will go one way first then go the opposite way. Remember, now a lot of buyers have been stopped out and sellers are getting confident in the price to drop further down. Doesn't mean it won't go further down, we're still looking for 1750 levels. Just won't be an easy ride as we've seen so far.
Ideally, if you're a new trader, less than 6 months experience don't trade NFP. Wait for the move to happen if it does, let it settle then look for your positions.