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

Dear Members. We can not stress this enough, if you're following along or even trading your own strategy and you're relatively new to the markets, this is not the time to go in with big lot sizes. Please be responsible with your lot sizes and ALWAYS use stop loss on your trades.

Key level here at 1812. We messaged on the chat group, if it breaks above 1812 we're going to invalidate the trade

There are two scenarios here. If it keeps resisting here its likely we'll go down first then up towards 1830. If it really wants to squeeze out sellers, it can go up first then come back down to 1790 levels. We're in on the short, however, as we said, if it breaks up above 1812 and closes the stop is there to protect us.

Tip: When you're in a trade you should be comfortable with the trade. Knowing where you're entering, where you're going to exit the trade and where your stop loss is. If it hits your stop loss, it shouldn't be a problem for your account, your money management is key to your trade. If a trade makes you uncomfortable, you shouldn't be in that trade at all.

Today is also Options Expiry for Futures contracts.

E.g

Thats 30pips from our entry. We're taking 50% here

Stop moved to entry. Free trade now

Moving the stop down to 1808

Trade complete