Silver - This chart has moved exactly how we intended however concerning it has been. Excalibur is indicating some more movement down on this so we'll follow the path. Support lies just below where these is a potential bounce on the horizon.

NOTE: This isn't the time to go short on Gold or Silver. The moves have happened, now is the time to be patient and wait for both pairs to find their intermediate support levels

Gold is now hitting the trend line support. We're still not happy with this price action and not ready to start committing to long trades just yet. Any long trades should be small lots with strict risk management to test the levels.

There is indication of a move upwards, how far though we don't know yet. The problem is we have FOMC tomorrow so if they really want to make buyers sweat they can hold the price down here below 1795 and just consolidate.

Again, as we've been saying, very difficult market to trade, please trade this carefully. Our honest opinion is to sit this out until after FOMC.

We'll be back tomorrow with our usual FOMC KOG Report and update on our plan and if we will be taking any trades.

We have a lot of news today that will move the markets, thats before FOMC which is later on. Markets are going to be extremely turbulent and choppy. The best trade plan during a day like this is honestly to sit it out. Let the market play out and let them move it to where they want to move it, once its settled and returns to some form of normality thats when you get back in. We're taking it easy today, won't be trading much at all. We'll share the FOMC KOG Report later today with our thoughts.

KOG Report for FOMC has been published on TradingView. Please like and support, everyone here who has followed our Gold, Silver and Oil analysis will have been on the right side of the markets, please show your appreciation by hitting like 🙏

Today will be a bit different, we won't be sharing any trades we're taking as we won't be trading the event. Please be safe in these markets, they're not done with retail traders yet.

If you’re trading an account size:

Less than £500:
LOT SIZE – 0.01 with a MAX LOT SIZE OF 0.03 AT ANY GIVEN TIME - You need to pick your trades and pick your entries carefully. Your risk needs to be low, however, a 0.01 lot size will give you flexibility when the market goes against you.

£500 – 1000:
LOT SIZE – 0.02-0.03 with a MAX LOT SIZE OF 0.06 AT ANY GIVEN TIME – You need to pick your trades and pick your entries carefully. Your risk needs to be low, however, a 0.02-0.03 lot size will give you flexibility when the market goes against you. Split your entries and take partial profits along the way until your target is reached. E.g Enter 0.03, when you reach 10-15pips take 0.02 in profit and set the stop to entry, let 0.01 run to the target with the trade protected.

£1000 – 1500
LOT SIZE 0.05-0.07 with a MAX LOTS SIZE OF 0.10 AT ANY GIVEN TIME - You need to pick your trades and pick your entries carefully. Split your entries and take partial profits along the way until your target is reached. E.g Enter 0.05, when you reach 10-15pips take 0.03 in profit and set the stop to entry, let 0.02 run to the target with the trade protected.

£2000+
LOT SIZE 0.05 – 0.15 with a MAX LOT SIZE OF 0.17 AT ANY GIVEN TIME - . Split your entries and take partial profits along the way until your target is reached. E.g Enter 0.07, when you reach 10-15pips take 0.05 in profit and set the stop to entry, let 0.02 run to the target with the trade protected.

Too many traders get stopped out and blow accounts because their lot sizes are too bit. A small reversal on the pair and panic sets in because a high percentage of the account is in drawdown. They take the loss and the market ends up going their way in the end. This is not the way to trade! You will make money but ultimately you will face huge losses on your account. The market is designed to play with your emotions and your greed, you need to use this to your advantage. The only way to protect yourself is money and risk management, it’s a fundamental tool and skill required to trade.

REMINDER:

Addition:

If this goes up towards the 1830 level don't be in a rush to short it. It could be a continuation of the bull run all the way back up towards 1875-85. The key here is to go long at the extreme low and go short at the extreme high.

On events like this it needs to spike, leave wicks, not big bullish or bearish candles.

Looks like the release is already priced in. Now they'll wait for the Q&A session

Not much going on today unless you're in GBP pairs. There is a US holiday so volume will be fading out. We'll stick with the FOMC plan for now.