KnightsofGold

KnightsofGold

1H: Again, just like the 4H chart suggest, it looks like we’re going up over the course of Monday based on successful support below. There will be a lot of buyers in the market with stop around 1810 levels, so a spike down and then maybe a move up over the day. Only reference and observation, not trading signals. As always, trade safe.

KnightsofGold

4H: Now we’re starting to get a clearer picture. There’s a zone above that looks like it hold liquidity. It wouldn’t surprice us if we get a move up towards this level to get some buyers in before a move lower. We’re still playing short on this. We have an entry that is in profit and safe which we’re thinking we’ll close on open based on a small move...

KnightsofGold

Daily: Following the technical levels. There is a clean chart pattern here and a candle reversal. This chart is suggesting we’re going to go further down as long as the 1828-35 level continues to act as resistance. Resistance: 1828 1835 1850 Support: 1815 1808 1794 We are day traders so these levels are for reference only. As always, trade safe.

KnightsofGold

Weekly: Again the 1780-85 level seems to stick out. Clear, clean trend and technical levels are being respected. On this chart we have closed below a key level so if we are going down over the next few weeks it needs to be a sharp quick move up and back down. We’re looking for resistance at 1835 to test the shorts again. We could get a bit of a squeeze on...

KnightsofGold

We got a lovely entry on this trade. We've banked 50% of the profits and set the stop to just below the entry level. Either way the trade will close in overall profit. Looking forward to Monday to see what Gold has in store for us. Wishing everyone a great weekend. As always, trade safe. Knights of Gold.

KnightsofGold Updated 

Lets see if we can finish the pattern off. Looking for this to resist around the 1826-30 level and then sell again during the US session. As we've been saying, I don't think their done with pushing gold down. Our overall target of 1750 still stands. As always, trade safe.

KnightsofGold

Sitting neutral at the moment, waiting for one of the levels to break. Simple chart today, pretty self explanatory. No positions in Gold at the moment, we're still bears in this market expecting decline at some point. Something tells me there's a spike up towards 1865-85 on the cards. That's the level we're waiting for to test the short. As always, trade safe.

KnightsofGold Updated 

This is what we're looking for today. Gold has opened up higher levels by breaching a key resistance. We want to see support around 1830-25 before taking this long trade. We will be targeting 1855 as our first destination and potentially 1865 after that. This all depends upon successful support below. Breaching 1830 and holding below it will invalidate...

KnightsofGold

Daily: We could be morphing into some kind of triangle formation on the daily timeframe. On the chart you can see what is possibly a key resistance level for this triangle to hold. Again, just like before the breakout can be strong. We’re not really concentrating on the upside levels at the moment, not until a breakout upwards. A breakout downwards can open...

KnightsofGold

Monthly Chart says it all I think. We're sharing this one to give you an idea of the bigger picture. Resistance: 1958-70 1874-94 1825-35 Support: 1793-1800 1750-1735 Trendlines go back many years. For reference only. As always, please trade safe.

KnightsofGold

Gold – 4H accumulation breakout This is what we’re looking at on the 4H timeframe. Now if the Dollar does what we think its going to then Gold should follow suit. Pullback towards 1805-02 and a move higher towards 1820 then 1830. This level is key for Gold, bulls can regain control above 1820 and push the price higher. There is a level of 1865 which we...

KnightsofGold

DXY – 4H We still have our target of around 92.00. It seemed like DXY was going to go for it last week but it created a double top on the 4H timeframe just before NFP on Friday. At the moment its left a double top around 91.60 and a right shoulder that needs to be tested around 89.40. Where it goes first will depend on 91.18 level, it could create a H&S...

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...