Knights of Gold (Gold/FOREX Analysis/Trade ideas)

Now I would say traders play a little caution on gold. Support is here and resistance is at 3385. We're in a formation that usually gives a false signal and then makes the move that is intended. Your risk model and levels need to be up to scratch if you're going to trade for the rest of the week as a breakout is on its way. The pivot is still 3340 which we can't discount so please trade safely.

The indicators again gave us a 50pip short but it was short lived as support didn't break

Worked well, got what we wanted but ideally we wanted that 3375 level to reject. As you can see, were playing there again

The level worked well for the short trades from above and then we wanted the bounce to give us at least 50pips

Gold is now in certain accumulation pending a breakout. We have a pattern in play with targets above but not as high as traders will imagine. This entails caution. Today we activated lower below the bias level and wanted to attack that level to them attempt a long trade

That's where we stand at the moment with no break above the red box for higher pricing at the moment. We have defence below at the 3355 level and below that 3350. Bias level is 3365 for today with resistance now 3375

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If anyone looked at these, all moving the way we wanted 👍

Right team, that's where we wanted to go. For now, we still haven't broken the bias level and we've had a nice move up and then down. Support is here 3350 while we can play the order region now 3350-55 looking for a break. We have indications of a move to come so key level resistance here is 3372

To the pip

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