We don't trade this but it looks good for a LONG if it breaks the resistance.

We will give some Gold analysis over the next couple of days. We have one position open with the TP stated on the chart. Next week Gold looks weak, Monday will tell us where we're likely to go but its likely we will be shorting it if it continues the way it is.

It was too late to post it on here but a nice trade on Bitcoin. We don't really trade crypto's but its something we're looking more and more into.

XRPUSD

Scenario 1:

1850 is an area of interest. We're looking for resistance here. IF it resists here we'll short it but a small lot to its nearest support.

It still needs to test the neckline around 1810 so this would be a good target. From this level we will assess as it could be a potential LONG opportunity for 1900.

Scenario 2:

This seems more likely at the moment. There is a signal that suggest it will break 1850 and use it as support, this will be purely to get more buyers in. The trend ends at 1905, I think it will give a false breakout and then come down. It needs to go higher to drop lower.

Immediate target:

Right now this is what we're looking for. 1849 looks good, ideally we want a pullback to get a good entry in with a small lot.

FOMC Tomorrow. We will update as we go along. Trade safe.

As suggested yesterday. We approached the higher trendline and have a rejection. We want to see support here lower and a potential retest at 1865.

We're not in any trades at the moment as we have FOMC at 19:00GMT today. One of these levels will break, our preference is still to SHORT the market, however, we prefer to trade after the FOMC minutes have been released.

The range is 1830-1865, we feel FOMC will move between this range until it breaks up or down. A break up and we will update you with where we feel a SHORT opportunity is.

Seems to be a clean head and shoulder on the 1H timeframe.

Suggest to us we may see a small move up and then down before coming back up.

We're looking at 1843 and 1868. If we get the pullback during FOMC we'll enter.

If you're not an experienced trader we would suggest you don't trade FOMC. Wait for it to be over with,
there are plenty of opportunities to trade everyday.

If it retest and supports, set your stop to entry and enjoy

We're taking 75% of the trade here, will set a stop to entry and let the rest run

Knights of Gold (XAUUSD Analysis) Chat
All things Gold. Analysis, trade ideas, thoughts and news. Please don't be a thorn, you'll be removed. We trade like Knights, chivalry and respect go a long way. Respect eachother, respect the group.

Hi everyone. Join the public chat if you have any questions or your own analysis to share. Thanks for your support.

Welcome to all the new members of the group.

We took LONG position yesterday during FOMC, banked 75% of the trade lastnight. We will look at this trade pre US open and decide whether to bank the rest or not

This was our prediction for Dec 2020 that we posted on TradingView late November.

As you can see we've hit our wave count target

Now what we're looking for. This wave can extend towards 1908-1910 which is also the 4H descending channel. We have a small trade running from last night, we're not adding anymore.

We are waiting for an opportunity to SHORT the market but the entry has to be right.

Knights of Gold (XAUUSD Analysis) Chat
All things Gold. Analysis, trade ideas, thoughts and news. Please don't be a thorn, you'll be removed. We trade like Knights, chivalry and respect go a long way. Respect eachother, respect the group.