KnightsofGold

KnightsofGold Updated 

Looks like this could be a good level to test a Long entry, the stop is quite big for my liking but theres a level below that we think it might spike down to. The stop is below that level so its shouldn't hit. Not holding this long term, just the levels on the chart. Small lot size today. As always, trade safe.

KnightsofGold

Please look at our previous DXY analysis for where we took our entry. We're still targeting that 92.00 Level, its just unfortunate we cleared 50% of the trade a week or so ago. Anyway, i'm sure this will pullback pretty soon. As always, please trade safe.

KnightsofGold

As we suggested earlier in the week, we expected Gold to go down and test that IHS from the last time we were at this price point. Now it seems its done that we are waiting to see if we get a double bottom. If we do it looks like a good LONG opportunity towards 1845-50, if we break the level below then its likely we will visit 1820-1810. Our overall target is...

KnightsofGold

Daily: We’re in what could be a symmetrical triangle on the daily timeframe. Within the triangle we’ve drawn the immediate range. We’ve been taking longs and shorts within this range, however, it looks like we’re nearing the end and a breakout is imminent. Key Levels: Support: 1835 1810-15 1801 Resistance: 1849 1876-1880 1895-1900 We will wait for Monday...

KnightsofGold

4H: We’ve had an equal high and a higher low. I would anticipate a test towards 1840 and wait for a reaction around that level. Again, just like the Daily chart we’re in a smaller (symmetrical) Triangle formation. We have below what is not a very clean Inverse Head and shoulders, price usually test the right shoulder at some point so this area is very...

KnightsofGold

We need to be careful today and tomorrow. DXY broke the trend and is forming what could be a short-term down trend. When we look at the chart we can see a potential H&S pattern forming as well as a 4H double top in the making. We need to monitor this as it looks like it could drop down before coming back up. NOTE: There is nothing to stop the Dollar and Gold...

KnightsofGold

1H TF. Consolidating.. Gold looks like its getting ready for FOMC tomorrow. Seems a Head and Shoulder neckline is being tested. This time the breakout and move can be extreme so we need to make sure we protect any open trades. We're monitoring as the day progresses.

KnightsofGold

The 15min chart paints the picture a little clearer. We're staying out of long trades for now but if you're considering going long the levels on the chart could be ideal entries. We have a very small double bottom which formed on Friday and could get tested tomorrow at some point. I wouldn't really call where we are right now a H&S, but if it is a messy one...

KnightsofGold

Gold looks like it wants to test the higher levels, bullish daily candles and a reversal pattern in play. Resistance: 1888 1894 1900 Support: 1868 1860 1854 The 4H chart is showing support at around 1865-70 which price has attempted earlier. Break and close above 1875 and I think we're in for a bit of a squeeze on the sellers. If it continues to support...

KnightsofGold

Was expecting Gold to go up a bit, its still possible we visit the 1860 region which would be an ideal short for us. There is a neckline that looks like its going to get tested around 1828 which seems more probable at the moment. Do we bounce here and go up then back down or do we break the level this time!? We're not in any positions at the moment, sitting on...

KnightsofGold Updated 

IF DXY closes on the daily anywhere here we're going to take a LONG to test the waters. Seems to be lining up for that gap at 92.00

KnightsofGold

Looking at the 4H chart we've drawn the short-term range. I'm expecting Gold to push up at some point on Monday or Tuesday to test the breakout around 1840-50. There is however a lower pattern neckline that as yet needs a visit which is around 1808. I'm expecting a small retracement up and then a decline again over the week. We have a low target of 1808 and...

KnightsofGold

We're looking for around 1850 to take a LONG entry targeting around 1863.

KnightsofGold Updated 

Our plan for today: We're waiting for a retracement to around 1844-46 to Short the market with a target of 1832. It could go lower towards 1820 from there but we're happy with 1830 if it goes there. If we get good support around the lower area we're going to go LONG (1830-1820) with a target of 1860

KnightsofGold

Looking for a bounce here, IF we get a bottom and strong support we're taking the long 100pip target

KnightsofGold

Took the trade early this morning to 1855. We were hoping for a small pullback towards 1848 before reaching the 1868 level. If we get it before we reach the target we'll go long again, otherwise we'll wait.

KnightsofGold Updated 

Waiting for a break of structure, retest of the break and then a small short towards the 1900 level. Patience is key, we haven't taken the trade yet, waiting for a clear break and confirmation.

KnightsofGold Updated 

Looking for 1954-57 to test a short. Still think we have room to go higher so the stop is in place. Resistance at the mentioned level and we'll test the short. Looking for 1915-1910