DXY. 1H TF.

We've hit support and formed a double bottom, this should gradually rise back up. We still haven't hit that gap at around the 91.40 level, so we should expect this at some point very soon.

Gold. We've formed a double top on the 1H TF. Now what we're looking for is the closing price. We want this to close below the support this evening. If it doesn't, next week could very well be bullish.

Please refer to the last gold chart where we've given a level higher of around 1820. That could be our potential target for next week depending on closing price.

Structure is still bearish, there is a lot suggesting a move lower down which we are monitoring. Next week we will stick to the same strategy, we'll sell from key resistance levels and we'll take quick buys to capture movement.

Wishing everyone a great weekend. Welcome to all the new subscribers and thank you to everyone for following.

Knights of Gold

Good evening members. Weekly outlook on its way. We haven't included the hourly timeframe as we'll assess and trade that day to day. Hope you've all had a good week. Looking forward to another successful trading week ahead.

Welcome to all the new members and thank you to all the members who have been with us since the beginning. Its only been a few months and unexpectantly we're over 400 members of the group. Thank you for all your support 🙏

Please also refer to our monthly trend chart which shows what we're seeing in terms of the fractal .

Looking at this chart you can see we still have room to go lower. We're going to look more closely at the lower timeframes to get a clearer picture of where me may head over the rest of the month.

We’re due a technical retracement so the levels we’re looking at for reactions are on the chart. Bulls are being punished at the moment and we really don’t think its over yet.
There will be a lot of buyers now sweating with stop losses below around that 1670-60 level, would be the perfect ending for bears to then start going long. We’re expecting another liquidity grab from above and potentially another drop to lower levels.

Support:

1770
1756-50
1728-30

Resistance:

1795
1810
1821-25
1845-48

This is just an outlook and opinion, not a prediction of trade signal. Lets look at the daily on the next chart.

Here we want to see a retest of the lower level around 1770, rejection here and gold will confirm a double bottom . We’ll look to buy around these levels and target 1808-15 initially.
What concerns us on this chart is that there is a pattern that wasn’t retested and the target is around 1587. We’re not saying its going there, however, technically the right gets tested most of the time on lower timeframes. This would really flush and frustrate buyers out of the market before gold resumes its bullish moves.

This is just an idea, not a prediction, not a signal. We’re just sharing what we see. We’ll trade the levels as we usually do, day-to-day. The targets can only get clearer with time, so we’re monitoring everything very closely.

Support:

1770
1765
1750
1736
1720-1710

Resistance:

1785
1804
1816
1832
1853

Apologies this one isn't very clear on here. If you're on tradingview you can see the bigger picture. What are we looking at here… You can see the trend and levels are being respected.

Now what we want to see If we’re going up is support around 1775, this will form an inverse head and shoulder pattern on this timeframe as well as a double bottom on the daily timeframe .
For us that would be enough confirmation to test the long trade towards the higher levels of 1810-20.

Breaking the 1775-70 level and closing below it and we’re on for another flush on Gold . This chart is confirming our level of 1750 that we’ve been targeting for over two months and potentially lower.

Remember, it doesn’t always have to go and touch the trendline. It can form a support of resistance at any key level and move the opposite way.

So just to be clear. Our plan so far for the week ahead is to take the long trade based on support. We want to look for that 1810-20 level and then we're going to switch back to shorting the market as long as we resist there. We'll have a better idea tomorrow once the market is open and as always we'll let you know what we're doing.

It all fits together when you look at it in detail. Based on today's analysis, if we get the double bottom on the daily and the IHS on the 4H timeframe we'll follow this route

Note to members:

Excalibur is coming soon. Our very own custom indicator and trading strategy. It's helped us achieve what we have over the years, its tried and tested and also works on most currencies and crypto. Once it's ready we will update you.

1H timeframe. We're looking for a pullback towards the 1788-86 level for our first test of the long, below that we'll look for a short spike down towards 1781-79 to take another entry. Initial target is small, 1806 first then 1810. We'll decide whether to partial close or to close all of the positions at that level when we get there.

Small lots, stop is a little flexible. What we don't want is for this to hold below 1785.

We're a bit late to the party this morning so if we don't get the entry we want we'll let it go. Please refer to previous charts for the levels you need and a longer term view for this week

As always, small lots and strict SL

Todays key levels:

Resistance - 1810-11.
Support - 1785-83

We're looking for the daily to either close above or below one of the above levels. We're still bearish in this market, looking for a good short opportunity. As we've said in our previous posts, we'll only take longs for quick in and out trades.

Target reached

We're done for the day. We haven't entered short yet, there's a high probability that we will visit the 1823-25 level over the coming sessions. This is where we will look to short the market for lower levels. We have to see the reaction at that resistance before we make a decision. There is that higher level of 1835-38 as well which we're keeping an eye on. Gold will want to get more buyers in and squeeze some sellers before it makes its move.

Chart is just for reference, not a trading signal.

Before we leave. We have two new levels for targets.

1835 for longs
1710 for shorts

Again, not a trade signal, we'll monitor as we go along. We want to catch it again from the top and when we get to the lower levels we want to try and ride it all the way back up. Please look at the charts and the levels for your intraday trading. Everything you need is there.

See you tomorrow.

Knights of Gold

Take a look at Knights of Gold (@KnightsOfGold2): https://twitter.com/KnightsOfGold2?s=09

If you're on twitter please do follow us.

Following on from yesterdays chart. We're looking for the price to come back towards 1788-85 levels before we decide whether to take the long to target 1820. We're scaling in, ideal entry for this trade would be around 1810.

Todays levels:

Support:
1803
1798
1785-83

Resistance:
1810-11
1820
1826