Knights of Gold (Gold/FOREX Analysis/Trade ideas)
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We trade level to level. Follow at your own risk. Always use a sensible stop loss. Strictly for educational purposes, not trading advice. We are showing you what we analyse and how we trade the markets.
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We're just sharing what we see. This looks good to support below and continue going. We can't help you manage this one as we won't be taking the trade ourselves. Trade at your own risk.
Lovely trading day today. We thought we'd show our appreciation by sharing additional pairs for you all to benefit from. Thank you to all members of the group and welcome to all the new members. This is just a taste of whats to come!!

All our trades are protected now so we're going to take a little break before FOMC minutes at 19:00GMT today.
1H XAUUSD

Members, these two levels are important for the coming session.

We'll be back tomorrow.
We're expecting this to go a little higher. Main target being 1750 or thereabouts, however, we have a higher target of 1760. We're not going long yet, we're still holding positions from the 1680 levels which we have slowly been chipping away at.

Looks like we're coming back down to support, lets see what it does here. We'll share our trade idea when we're ready to enter.

Support:
1740
1735
1727-6

Resistance:
1750
1757-62
1777
We're out of all long positions now. Going to sit back a bit and wait. Still has a bit higher to go but we're going to look to short it soon.
4H levels for you. We're looking for support at these levels, breaking here the next support level is around 1735. Its Friday so expect some choppy price action.

Excalibur is suggesting the move up is not over with so we're expecting this to pullback to the support levels and then continue the rise. The main level of support still stands at 1727, this level is crucial as breaking here will resume bearish pressure on Gold.

Our plan:

We're still bullish short-term as long as these support levels hold. Our higher target is 1760 and our lower target is 1720. We're going to sit and wait for the price to exhaust and then decide if we'll take an entry. Again, being Friday it needs to be a very strong setup for us to take it. We will share the trade as soon as we identify it.
USDCHF 15M

Not worth taking it unless we get some form of pullback to 15M support levels. The target looks good though, just want to get a better entry for it.