KnightsofGold

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

KnightsofGold Updated 

Looking for a test of support below for an entry. If we don't get the entry we'll sit it out. Ideally want a spike down, up towards 1960 and then we'll test the sell targeting 1930, upon successful resistance above. Small lot being used and SL in place.

KnightsofGold Updated 

We're waiting for another test around 1880. Upon successful rejection we'll test the short with below target.

KnightsofGold Updated 

Looking for support around here to take a quick LONG entry towards our target above

KnightsofGold Updated 

Waiting for the price to revisit 1876-78. We want to see resistance here, based on the price resisting we'll take a small short for the below target. I want to see a wick fill at some point today.

KnightsofGold Updated 

DXY filled the gap above and the gap below. There is one left at 92.00 which we feel needs to get filled.

KnightsofGold Updated 

Looking for 1905 area to test a short. All depending on whether it resists there or not. If it breaks the level we'll wait for 1920. Its Friday, no rush to trade and not worth getting stuck over the weekend.