Forwarded from Knights of Gold (Gold/FOREX Analysis/Trade ideas)
Short from the top worked well as well as the long from the bottom for anyone who took it, pure level to level TAP AND BOUNCE style.
Would protect longs if you're in as 2008-10 is an important hurdle to cross.
Would protect longs if you're in as 2008-10 is an important hurdle to cross.
End of day update from us here at KOG:
After yesterdays short the support level gave a prolonged bounce back up towards the level we were anticipating 2008-10 which is where we've suggested protecting any long trades. We're in typical pre-event price action now so wouldn't be expecting too much late session with price likely to play the range. 2008-10 is the level to watch for the upside while support stands at 1990.
Structure break to the upside and we should see the higher levels completed, however, expect the chop and whipsaw!
After yesterdays short the support level gave a prolonged bounce back up towards the level we were anticipating 2008-10 which is where we've suggested protecting any long trades. We're in typical pre-event price action now so wouldn't be expecting too much late session with price likely to play the range. 2008-10 is the level to watch for the upside while support stands at 1990.
Structure break to the upside and we should see the higher levels completed, however, expect the chop and whipsaw!