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...
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.
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.
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.
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...
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...
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.
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...
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...
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.
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.
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...
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...
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...
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...
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.
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...
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...