Coming down to test the low. Lets see if it supports to form an equal low.

We're waiting for the next candle to open and a retest of the 1784 level. We may test the long here back up towards 1797. All based on successful support below. Using a small lot here with a tight stop. If the level breaks the next support below is around 1772.

Note To Members:

Please remember this is not a signal service. We're sharing our thoughts, ideas and analysis with everyone to show you what we're seeing and doing. We can't tell you where to enter, where to exit, what your SL should be etc. Its up to you to make informed decisions based on your own trading style and risk management.

Here's the retest

If it breaks this support we're not going to enter

If you entered that was the perfect place to exit the trade based on current price action on the smaller timeframes.

Once you add the trade ideas to the levels and your own trading style you'll see how much easier it becomes

Next level is 1772-70

Then 1762-60

Note to Members:

As we've been saying in previous posts. We wanted to catch this all the way down from the 1900 level, we've traded mostly shorts and quick longs all the way down. We're now getting closer to our 1750 target. IF we get there, this is where we're going to pause and assess the market. We want to get back into Longs and catch this back up. Please keep an eye on the levels. Safe trading.

Thats the test of the low and the former pattern, should complete around 1770 and support there. Likely we'll get a retracement tomorrow or into the US close. They've been flushing gold and we don't think they're done yet!!

Keep an eye on the levels. Trade safe.

Support - 1770/1762
Resistance - 1783/1783-5

See you tomorrow.

New short-term target is 1762. THIS IS NOT A SIGNAL. We're waiting for a retracement unless it gets hammered this evening

If you entered the buy at 1770 set the stop to entry and protect it

Good morning. Todays levels and idea.

We're expecting our long awaited target of 1750 as our first stop at some point today, the price looks like it can go a lot lower if this level doesn't support.

We're waiting for a small retracement towards 1770 to scale in and then potentially 1784 for our next short entry. Dependent on the target not being reached beforehand. We're using very small lots and strict SL as its Friday and we don't want leave anything open over the weekend.

Support:
1760
1749
1728

Resistance:

1770
1781
1784

If we get an aggressive move up and the price closes above 1784 then this trade idea is invalid for today. We're also monitoring what could be the formation of a IHS on the 1H TF.

BOOOM!!!!

Thats 1750

Took us a few months to get there but we made. Well done to all that followed precisely, we committed to the direction and managed to sell all the way down.