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 doing what we're doing πŸ™
Many of us sit and wait for the perfect entry, I can tell you, unless you're scalping, this hardly ever happens. The key to get an entry is identifying your target region first! Once you have identified that target region, then start looking not for a precise entry, but a region or a zone you want to be testing your entry in. The skill is not getting in too early, and if you get in too late you're usually going to be the wrong side of the market.
You lot size needs to stay within the boundaries of your account size, it's as simple as that. Small lots, good risk management and better captures. The 95% that fail are oblivious to risk management and trade management. It's nice to see what we teach and implement in Camelot, together with the targets make a huge difference to our traders.
So far we're in long, 2300 tapped as first region of interest. We now need a forceful break above here to complete the move but for now, happy with the trade so far.
As per the report, first trade was a nice one into the resistance level. Second trade as a bonus up to our target level in Camelot, we're going to stop at 99.9pips (only because we can) BE and let's see if we can complete the move. Support stands at 2305, resistance 2318
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This goes for everyone. FOMC and CPi on the same day this week, it's going to be choppy and they will want to gather enough orders to move the markets again. This move isn't finished yet, it's only a short swing, so lets play the game safe while the market is out to get us!