FX:XAUUSD   Gold Spot / U.S. Dollar
FOMC!

We've seen some more choppy price action as anticipated on Gold . We've advised our traders and group members to sit this one out, we would rather the noise be over with and we'll get in when its settled. We would advice new traders to do the same!

This is our view of what COULD happen. Its only an idea based on our analysis so please also do your own research.

We have 2 scenarios:

Scenario 1:

We have 2 Excalibur targets around the 1795 mark which we are treating with caution. If the price drops from here we'd be looking for this to find support around the 1760-65 level where, if it supports could represent an opportunity to take the long targeting the 1795+ level.

Scenario 2:

This is the one we're more interested in. If the price goes up from here it could break the 1795 level and target the higher price point of 1810-15. That price point could represent a good opportunity to short the market for the lower levels of 1765-60

Either way, its a messy one from Gold this FOMC.

As always, trade safe.

KOG
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🟡 Disclaimer: Not financial advice. For educational purposes only.

Comments

These people needs your liquidity to make profits,guys don’t trust people’s analysis..learn how to make your own analysis in order to be successful on trading 👨🏻‍💻
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KnightsofGold CryptoAndy85
@CryptoAndy85, Thank you for your comment Andy.
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Sir , in your previous analysis, i tought gold will down to lower level of support around 1735/40?
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KnightsofGold suddenSuccess24949
@suddenSuccess24949, This is only applicable for FOMC
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suddenSuccess24949 KnightsofGold
@KnightsofGold, oh sir, meaning this spike to 1815 is only for today’s event, and afterwards it shld resume its downtrend to lower support of 1735? What about next week Jackson Hole Symposium event?
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KnightsofGold suddenSuccess24949
@suddenSuccess24949, Please follow analysis. All our thoughts are on there.
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suddenSuccess24949 KnightsofGold
@KnightsofGold, ok sir, one last question, since this is only applicable for FOMC, normally it will takes how many days to materialize, or just today itself?
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which TF you recommend
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KnightsofGold playerkhan256
@playerkhan256, Depends on your style of trading
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Lovely as always
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