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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Right, back to gold. We have completed the red box targets and liquidity is suggesting an attempt at resistance here with the extreme level being 4910 which will need to break now to go higher. We mentioned in the report, we would expect them to take it down and bring it back in range, there is an indication for lower at the moment but looking at the structure, they're accumulating, ranging, moving, rinsing and repeating. This swing is important, if it's a breaker then....
New additions to the indi's in action. +400pips on that activation
We got that level with a tap and bounce, but short lived. Gold didn't want us to hold that trade so scalps only on this one. Still no break below
