Before:

After:

We were expecting this to pullback into our levels identified. However, we're concerned that it hasn't broken out, it's started ranging instead, especially as its the monthly close and a Friday. The previous levels still apply but remember its a long weekend in the UK on Monday.

We wouldn't advise to enter any trades unless you entered earlier on the wick down. That long should be in profit but we suggest you protect it

We can not emphasise this enough, if you're a new trader please try to exercise patience in the markets during this time. There's a reason we haven't shared our trades a lot this week and its because we can see some extreme moves coming in the following days. We don't want anyone here to get stuck. You'll thank us next week hopefully

A small range last week which enabled us to scalp the markets up and down on the smaller timeframes. Looking at the weekly we can see the price is struggling to break above the trendline resistance which tell us next week we may see the price attempt to challenge the lower support levels.
1760-65 has proven to be a strong support last week and we managed to close a fraction above it. We want to see how this holds on market open and breaking this level will result in a deeper pullback, which we were expecting last week.

We still have our Excalibur targets of 1795-97 and then 1808-12 so for now we will remain in the direction of the short-term trend. We also have our lower levels of 1720 and below that 1647, however, we feel the market isn't ready for the drop yet. We'll analyse the lower timeframes and wait for the market to open which will give us a better idea and help us plan for the week.

We’ve kept the same support levels as last week as they haven’t changed much due to the ranging market we experienced last week. It’s a new month, however we have a UK holiday on Monday so expecting there to be low volume in the markets. It will be an interesting month as

Support:

1768
1751-48
1736

Resistance:

1782
1794/5
1806-10
1820-25
1850-60

On the daily chart we can see we ranged in our identified area from last week. Although we don’t rely on trendlines we can see how the daily trendline is resisting the price in a strong way. In order for the price to hit our targets this trendline will need to show weakness at some point and break to the upside. For this reason we’re expecting that deeper pullback into next week before the resumption of the rise. This all depends on the how the early part of the week plays out, which we will be monitoring and updating as we go along.

Our key level here is the 1745-50 region, breaking this will result in the price going lower to our previous level of around 1730-35. We’re thinking this is potentially the turning point.

Last week we didn’t take many Gold trades because of the range it was in. We were expecting this to move to our targets but the accumulation was a little prolonged.

Due to that accumulation we would expect the price to move aggressively over the week, especially as it’s the beginning of a new month.

Support:

1761
1755
1748

Resistance:

1785
1792
1802
1810

If you like our work please show your support by liking and sharing our posts.

Bank holiday Monday in the UK tomorrow so we may not be around much during the day. The levels on the charts are important, these are all potential entry and exit points if you want to play the range

We won't publish the 4H and 1H today, we'll wait for the market to open and then share what we think about immediate direction and what trades we're going to take.

Wishing everyone a successful trading week ahead. KOG

Dear Members. Last week we said we were running Excalibur across 31 different pairs. We said we will start a poll to identify which pairs members would like us to publish targets for as 31 is a bit much. Unfortunately we didn't get a chance to publish the poll as we wanted to see how Excalibur performed across a variety of pairs before we make a decision which ones we will publish.

Good news is its working well. Below are the results of the last 7 days. You'll see the ones marked complete are trades that hit the target. The ones in Amber are trades still running.

We'll analyse the active ones over the coming sessions and give our targets for those.

KOG

Theres more!! 💥