That rejected nicely, we activated short and we got the move down.
We plotted this range on Sunday, and it's been following pretty well so we'll look for this to continue the path to complete the move as suggested in the KOG Report. Support below 2473-70 needs to break to go lower, while resistance above now stands at 2485.
Knights of Gold (Gold/FOREX Analysis/Trade ideas)
We plotted this range on Sunday, and it's been following pretty well so we'll look for this to continue the path to complete the move as suggested in the KOG Report. Support below 2473-70 needs to break to go lower, while resistance above now stands at 2485.
Nice move upside from the support region 2473-2485 move complete
Pre-event price action:
Trend within trends on the smaller timeframes
Patterns that conflict each other - You may get a H&S but with that is a double bottom for example. They do this intentionally to get traders committed to the wrong direction
Ranging price staying close to short term MA's
Swings and spikes all of a sudden - This is a stop loss hunter activation taking liquidity from the high and low of a potential range
Ask yourself these questions:
Do I understand intra-day levels?
Do I understand pre-event price action?
Do I understand trading with ranges and price accumulation?
Do I have a risk model that protects me and my account no matter where the price goes?
Trend within trends on the smaller timeframes
Patterns that conflict each other - You may get a H&S but with that is a double bottom for example. They do this intentionally to get traders committed to the wrong direction
Ranging price staying close to short term MA's
Swings and spikes all of a sudden - This is a stop loss hunter activation taking liquidity from the high and low of a potential range
Ask yourself these questions:
Do I understand intra-day levels?
Do I understand pre-event price action?
Do I understand trading with ranges and price accumulation?
Do I have a risk model that protects me and my account no matter where the price goes?
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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.
Nice start to the day. RE: Gold, we got the pull back as per the KOG report into the support level, held well and up into the target level we wanted.
Not much more we can do with this team. We've got the high, we shorted, we got the low, we longed. We got the pull back into support, we longed we've hit our immediate targets. Now we have support at the 2505 region as a key level and NFP around the corner. We're taking it easy now, not giving anything back to the market.