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

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Pre-event price action: Trend within trends on the smaller timeframes Patterns that conflict each other - You may get a H&S but with that is a double bottom for example. They do this intentionally to get traders committed to the wrong direction Ranging price staying close to short term MA's Swings and spikes all of a sudden - This is a stop loss hunter activation taking liquidity from the high and low of a potential range Ask yourself these questions: Do I understand intra-day levels? Do I understand pre-event price action? Do I understand trading with ranges and price accumulation? Do I have a risk model that protects me and my account no matter where the price goes?

Why do I say this? Because a lot of traders are going to be in positions before the NFP release. Unless you're lucky and in the right way, the above is very important.

Evening Thought: Pre-Event price action I want you to think about something. Pre-event they usually settle and range after they have gone up and down many times between key levels. What they're doing is getting traders stuck in trades and then settling the price bang in the middle. So now they have most of the buyers above, and most of the sellers below. Then they manufacture these events and we know they will swing one way, then the other taking liquidity with them, but which way does it go first? The novice trader is now biting their nails not having used a SL awaiting the event and praying it goes their way. It then starts the move, goes against them, they either blow or cut before there is no equity left, then the price goes in their direction and they wish they had held. Never mind, next time I will know better, next time, they do the same thing again. Pre-event PA is for scalping only with SLs in place, its hardly ever worth holding before a main economic release and the best practices are always to sit it out. Think of it as teacher training day at school....For NFP!!

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There is an extension of the move here. Can't long here! The move starts on the break above

That's us done for the day. Don't forget, NFP is around the corner, they'll start ranging and then chopping up and down. Take as much as you can when the market gives, give as little as you can when the market takes!!

That was the before. Bias level broke, the indicator activated long on the breach, the TP was given. All you have to do then is follow the hot spots and the TP levels step by step, level to level

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