FX:XAUUSD   Gold Spot / U.S. Dollar
Looks like Gold is making some moves pre-NFP to get both sellers and buyers into positions, this tells us that there could potentially be an aggressive move to come.

Excalibur has given us a long indication on DXY and USDJPY so we need to be careful as both have room to go down first to give entries or go up first and crash down!!

We're looking for two scenarios here on Gold:

Scenario 1:

IF this goes down first towards the 1790-85 level we'll look to take a long position targeting 1808-10 as the first destination. At this level we'll most likely take a large portion of the trade of the table and move the stop to entry to protect it.

Scenario 2:

If this goes up from here to around the 1808-15 level we'll look to short the market towards the lower levels of 1790 and below that 1775-70. At 1790 we'll take a large portion of the trade of the table and move the stop to entry.

We have a key level of 1823-26, this is a crucial price point for Gold as closing above it can lead the price to gather more gains targeting 1850+.

We already have some positions short from the 1830 levels where we've take a majority of the trade in profits and left the stop to entry so we have some room to maneuver on Gold .

We would suggest anyone with less than 6 months trading experience to stay away from the markets today, protect your investment, cash is also a position in the markets. We'll be trading this with smaller than usual lot sizes and with strict risk management in place.

Nothing is 100%, this is only our forecast and plan, neither scenario could play out so we'll trade carefully.

As always, trade safe.

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

Comments

Excellent chart as always. Last few major data dumps these charts have been my go to. Keep it up!
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KnightsofGold brudinholdings
@brudinholdings, Thank you for your kind words. Wish you all the success in your trading journey πŸ™
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brudinholdings KnightsofGold
@KnightsofGold, another brilliant call mate well done. Profit booked. See you next week
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KnightsofGold brudinholdings
@brudinholdings, πŸ‘ŒπŸ‘
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