Unless you're in from the bias level, please don't risk shorting it down here, especially when Powell is giving a speech
Knights of Gold (Gold/FOREX Analysis/Trade ideas)
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2) The bias level bearish below 2370, again the target levels 2355 and 2350.
Knights of Gold (Gold/FOREX Analysis/Trade ideas)
Todays level are important to establish the next move. We're currently sitting above the order region with resistance 2370 which is also the bias level for now. We have an inside bar formed awaiting another breakout, with Powell speaking later we can expect…
3) This mornings quick review, potential range given. Bias target level 2355 we said bounced, up into 2370 potential range high, short again from there
Knights of Gold (Gold/FOREX Analysis/Trade ideas)
BANG!
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Knights of Gold (Gold/FOREX Analysis/Trade ideas)
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.
We wanted 2365-70 for the longs and then to monitor price there for the short again. Price however is hovering around this region which isn't a good sign for us. For that reason and with no confirmed reversal, no shorting it here at the moment.
Support turns to the 2365-8 region which needs to hold up price while resistance here at 2375 could give a slight pullback. We have have Powell again today so most of the action will come later in the session, like yesterday.