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

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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.

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Looking for 1905 area to test a short.

All depending on whether it resists there or not. If it breaks the level we'll wait for 1920.

Its Friday, no rush to trade and not worth getting stuck over the weekend.

We have banked the remainder of this trade with good profits for the week.

We've entered a small short here. Tight stop low risk trade

We need to be careful trading over the festive period. Markets are know to be very volatile and the moves in the last days of December can get traders into trouble. There are a lot of fundamentals moving the markets (to technical levels), the new Covid wave for example.

For this reason we do not trade as much as we usually do during this period. We were waiting to short the market last week and we got a perfect entry with good profits. Now we're sitting back and waiting again.

I can see a wick fill to test the low again, we already have 25% of our trade running just in case we get it and banked 75% earlier on.

1882-86 is a key level, if we remain below this level its likely we will fill the wick and potentially go lower down. We need to wait for a good setup if we're going to get in to the trade.

If you're not an experienced trader I would suggest you don't trade a live account during these moves in the markets. They're designed to blow retail accounts. As we always say, there are plenty of trades to be had, cash in your account is also a position. Sometimes its best to sit and wait and pick the most probable setup before you take a trade

This is what we have our eye on for the pre-us session. We're waiting for the price to revisit 1876-78, we want to see resistance here.

Based on the price resisting at this level we'll enter a small short position with a tight stop loss targeting 1860.

Couple of high impact news releases today

Dear all. This is a good friend of ours, a great trader and analyst. Cypherki also has a group on telegram where he shares his daily and weekly key levels, pivots and analysis. Evgeny please feel free to send a link to your group here

We're taking 50% profits here and moving stop to entry

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.
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