Dear Members,

Firstly, we would like to thank everyone on this group for joining, your support, liking our posts on TradingView, social media and sharing our group with your friends. Please continue to do so if you like what we are doing.

We set this group up to help traders, especially newbies and those less experienced in the markets. We didn’t expect to get this kind of response and over 600 members in such a short period of time.

There are some members who have been here from the start, we especially thank you for you continued support.

We’ve been asked a lot about trading courses, strategies, premium membership etc.

Our first update is the Knights of Gold website which should be ready by the end of March. Membership is FREE! Here you will find lots of useful information, free training courses on analysing charts the way we do, a newsfeeds relevant to your preferred currencies, commodities and now also Crypto. There will be a forum for questions and discussions, Merlins very own trading room for mentoring and one-to-one help which can be booked through the site on a 30min or 1hr basis.

Excalibur! We’ve been using it for many years, its our very own custom indicator which when applied with our trading strategy is a very powerful system. This will be available on a first come first served basis but as a thank you to all members of this group you will get priority over the general public.

As we’ve maintained from the beginning, we’re here to help traders succeed. Everything we share on this group is free and will remain that way. All the analysis and ideas will continue to be posted on the group so nothing will change in that respect, in fact, we hope to increase what we share by adding more currency pairs and crypto.

Knights of Gold

Todays levels. price has found support around 1700 but its still bearish. We still have our lower target of 1640 and 1654. We have a feeling the price may not stop there this time but have to wait and see.

We should get some retracement today like we're seeing now, the levels to look out for are shown on the chart. 1720 and 1735 are key levels for the price to change direction again. Its a good idea to observe today as its Friday and not advisable to hold trades over the weekend.

We're coming back in to test the breakout box. Here we want to see rejection or a break back inside. This could be a larger 1H H&S playing out so it wouldn't be surprising to see this range back inside for weekly close.....Keeping an eye on this. We've taken a small Long from 1702 based on the previous levels we mentioned this morning. Eyes are on the 1708 and then 1720 levels again!

Again, daily and weekly close is important, we wanted that spike up before the bigger drop but 1720-25 proved to be a strong level. Still bearish until we get confirmation of a bottom, which we haven't yet.

We'll sit on the trade we have in already and wait for Monday.

As always, trade safe.

15M. This could also be a continuation for the down move. Lets wait for the breakout

Zoomed out.

Now we're back in the box. Lets see how it reacts here.

We're done for the week. Everything you need for the rest of the session should be on the charts from earlier.

See you Sunday for our weekly analysis and market open.

Have a good weekend.

Knights of Gold

Dear Members.

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Knights of Gold

We bounced at the 0.618 Fib level which also coincided with the weekly trendline which we extended last week.

We have circled our area of interest with a possible level of 1760-65 and a lower level 1682 as the range. Breaking one of these levels should determine whether Gold will continue its bullish or bearish run.
There are a lot of barriers in the way upwards, one mainly being that 1800 psychological level.

As we mentioned last week, we’re monitoring what is potentially the 3 black crows candle pattern. Although these patterns are most relevant at the top of trends it still signifies bearish pressure on Gold .

Support:

1720
1692
1640-45

Resistance:

1742-45
1760-66
1795-1800

Played out just as we thought last week. Again, you can see on this chart the price is within a range we consolidated in Apr-Jun 2020. Key level here is that 1748-50 level where we would expect a reaction.

FOMC on Wednesday so unless they price it in first half of the week we’d expect accumulation until we make the move.

We’re still bearish on the daily, we’ll take small long trades to capture any retracement but overall we’re looking for our lower level of 1640 with the first target being 1657.

Support:

1720
1703
1693
1671-65

Resistance:

1730
1748
1770-77

Looks like 1737-45 is on the cards. Resistance here is crucial as forming a triple top will result in a strong rejection of the level. Breaking up could be a forceful move with an immediate target of 1755.

Top of the short-term trend is around the 1755 level, breaking this level will result in higher pricing for Gold this coming week. We’re watching these levels closely as they’re good opportunities for us to manage our long trades.

We’re going to keep this one simple as we want to wait for market open and move down to lower timeframes in order to pick our trades.

We'll be back in the morning. Wishing you all a successful trading week ahead.

Knights of Gold

Looking for 1740-42 a pullback towards 1724-26 would be ideal to get a good entry for this trade. Strict SL and small lot being used.