Set the stop to just above the entry, lock in the profit.

Now its a free trade

Now*

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.

NFP 13:30GMT today.

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.

1814/1820/1829-33 are levels to look for if it spikes up.

1797/1787/1783 are levels below

THIS IS NOT A TRADE SIGNAL: Looks like we're going to spike up

First spike, let it push further up, don't trade the momentum

We're done for the week. Let's see where Gold closes today and we'll start planning for next week over the weekend.

See you on market open next week. Wishing everyone a good weekend.

Knights of Gold

Week ahead analysis shared on TradingView. Please like and share. We'll start looking at the smaller timeframes tomorrow morning, it will give us a clearer picture as to what Gold is going to do this week.

Daily:

We could be morphing into some kind of triangle formation on the daily timeframe. On the chart you can see what is possibly a key resistance level for this triangle to hold.

Again, just like before the breakout can be strong. We’re not really concentrating on the upside levels at the moment, not until a breakout upwards. A breakout downwards can open the levels below.

We'll get a clearer picture on the lower timeframes once the market is open.

Gold – 4H accumulation breakout

This is what we’re looking at on the 4H timeframe.

Now if the Dollar does what we think its going to then Gold should follow suit. Pullback towards 1805-02 and a move higher towards 1820 then 1830. This level is key for Gold , bulls can regain control above 1820 and push the price higher.
There is a level of 1865 which we could reach. I see this as an opportunity for the market to get more buyers in only to drop the price again. Our overall target of 1750 and potentially lower still stands as per our previous analysis.

We haven’t held any long positions in Gold , rather finding opportunities to short it wherever we can. We shall continue with that plan for now, Short at strong resistance and only quick captures on Long positions.

This is just an idea, we won’t have a clear picture until market opens and we can analyse the live charts.

DXY – 4H

We still have our target of around 92.00. It seemed like DXY was going to go for it last week but it created a double top on the 4H timeframe just before NFP on Friday.

At the moment its left a double top around 91.60 and a right shoulder that needs to be tested around 89. 40 . Where it goes first will depend on 91.18 level, it could create a H&S there and correct the whole move back down.

Breaking that level, the next stop is the double top retest (91. 40 level).

Its broken out of the trendline which tells me its likely to test the double top and then maybe drop further down over the course of the next 2wks.

As always, trade safe.

Note to members:

Hope you're all benefiting from the ideas and analysis on the group. As you're aware it's a free group, we want to try to help as many traders as possible by showing them how we trade and analyse from our experience in the markets.

Please share the group with your fellow traders and friends who are interested in trading. We're nearly at 250 members in a short period of time so we thank you for your support and following.

We're going to start adding other pairs to the mix over the coming weeks.

Silver
Oil
USDJPY
EURUSD
GBPUSD
(BTCUSD maybe)

If there are other pairs you would like us to look at please let us know.

A lot of members are asking for courses and education. Everything here is free and we will continue that way so nothing will change apart from more content being added.

We do run a paid course where we mentor, teach and support our students, this group membership will reopen in April 2021. We will send a message closer to the time for anyone who wants to join. Again, whether you're a member of the paid group or not, nothing will change here. We'll continue to improve the content and share as much as we can, if not more.

Knights of Gold

P.s

Please follow on TradingView if you aren't already.

Wishing everyone a successful trading week ahead.

If we get the entry we're going to long it from around 1818 with a tight stop loss and small lot.

THIS IS NOW INVALID