Knights of Gold (Gold/FOREX Analysis/Trade ideas)
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We trade level to level. Follow at your own risk. Always use a sensible stop loss. Strictly for educational purposes, not trading advice. We are showing you what we analyse and how we trade the markets.
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Ok guys, that's us done for the day. 3 trades, 1 short, then a long where we took around 60pips and a majority off the trade, hit the first TP but then closed at BE. 1 more from this low, Excalibur has just completed.
Support now is at 4080 which needs to break, while resistance is at 4104. Here's the Knights indicator screen shot, algo level S2 bounced and there is a void above in red
TP1 hit and the move commences. What ever was left is taken at BE. Would have wanted a little higher there to for this move
Protected and managed. Would be looking for a level to level move here
The lower defence target has been hit and the bias level has been tapped into but not broken. The indicator has given a huge caution here on shorting with a upside move as potential. We've already scalped the move from the bounce for a quick 50pips but lets see what the next candle brings
NAS100 - Those who trade this, it's in our red zone. Worth watching!
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All TPs completed, HOT SPOT RIPPED, TAP AND BOUNCE!
https://www.tradingview.com/chart/XAUUSD/SVMLxEFo-KOG-Trading-the-Descending-Triangle/
The Descending Triangle:
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