KnightsofGold

KnightsofGold Mar 21, 2021

Looks pretty bullish short-term. We want to see this challenge the 1745-50 area and see what sort of reaction we get. Based on the weekly we could support around 1740-35 and then break up towards 1760-65 as the first target and then 1775 or there abouts for the second target. We will keep this in mind when the market opens and look for clues on the hourly as...

KnightsofGold Mar 21, 2021

Last week we suggested a level of 1760-65 is our area of interest. This week we will remain with a short-term bullish outlook as long as the price stays above 1735-40. We can see we’re retesting the breakout of the trendline which runs from May 2019. We have a higher zone of 1790-95 on this chart which could be a possible target and also a turning point. ...

KnightsofGold Updated  Mar 18, 2021

Taking a small buy here, will take 50% at 1735 if it gets there. Tight stop on this one with small lot

KnightsofGold Mar 17, 2021

FOMC: This is what we're hoping for. Whether it plays this way or not no one can predict. We're looking for higher pricing but want to get a good entry for a long. Support levels have been given on this mornings analysis. We're looking for a first destination of 1720 and below that 1708 levels. We will be looking for STRONG support here and an indication the...

KnightsofGold Mar 17, 2021

Gold opened with positive momentum during the Asian session. We would suggest you monitor any trades you have open for the rest of the day as the market will be waiting for the FOMC minutes later today. Ideally, if you're not in any trades then stay out of the market until after the FOMC meeting, once the market has settled you'll get better, clearer...

KnightsofGold Updated  Mar 15, 2021

Looking for 1740-42, a pullback towards 1724-26 would be ideal.

KnightsofGold Mar 14, 2021

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...

KnightsofGold Mar 14, 2021

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,...

KnightsofGold Mar 14, 2021

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...

KnightsofGold Mar 12, 2021

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...

KnightsofGold Mar 11, 2021

We need a pullback towards 1730-29 as the first destination and potentially a deeper one towards 1725-22 as the second destination. The target is the 1745-50 level based on successful support below. We're not going to run these long trades from below much longer, these entries higher up are going to be quick captures. If you have longs from below it would be an...

KnightsofGold Updated  Mar 11, 2021

Any pullback should result in the price moving up at some point. We're looking for the price to support around the 1708 and 1703 levels if it gets there. We still have our lower targets but don't think we're going down just yet. We have a news release today 14:00GMT so the market will react. Make sure you're all protecting your...

KnightsofGold Mar 9, 2021

There's the right shoulder retest at 1708 that we said should get done. We also have a level of 1720 we're keeping an eye on, after that its 1740-45. This are good targets for longs (not a signal). We're looking to take small longs from pullbacks but our bias still remains short. We're going to be hunting a good level to short it again for our lower target of 1640.

KnightsofGold Mar 8, 2021

Levels on the chart. Its left a H&S on the 1H early this morning which suggests we're going to get a move up at some point to gather enough momentum to then drop further. We're still Shorting this where ever possible

KnightsofGold Mar 7, 2021

If you look at our previous analysis you'll see we were targeting that 92.00 level gap. It took its sweet time but we got there in the end. I would expect this to continue going up but we're not ruling out a pullback before continuation. Our DXY trade closed but we'll look to get in again. As always, trade safe.

KnightsofGold Mar 7, 2021

We had a minor move out of the short term trend and then back in for the continuation. This chart is also showing we have room to go lower before the market attempts higher pricing on Gold. As suggested on our previous chart, we’ll may get a glitch on opening leaving a gap. Opening higher and leaving a gap below will be something to look out for, giving us an...

KnightsofGold Mar 7, 2021

As we analysed on the weekly chart, there is still room to go lower before we go higher to fulfil the retracement we’re looking for. For this reason, on opening we will remain neutral in the markets until we have a confirmed setup on the lower timeframes for a trade. It wouldn’t surprise us to see a glitch on opening due to the news release, as always it...

KnightsofGold Mar 7, 2021

As we’ve previously said, this stopped being a bullflag a long time ago. The trend goes back to the beginning of the last bull run. Traders will all have different interpretations of the chart and its trend, supply/demand etc, this is just our view. We’ve broken out of the previous trendline which was retested and confirmed the bull trend in March 2020. I...