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

Redboxtrading

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Can you see how price plays them? The resistance and support levels still holding it within the range, perfect for scalping but if you're holding you will need to switch off the screen and leave it alone to do it's thing. Protected again from 2320 short, let's see how it does this time

A lot of you are going to struggle during this move so here are the RedBoxes we're using for today to help you

When price is ranging: Don't get used to it, they do this intentionally. They will play the range, get your confidence up until you start increasing your lots sizes, then they'll move and if you're in the wrong direction, they'll take back everything you make and more. When you have a decent day on the markets, don't try and force a trade, your next trade needs to be even more precise than the last one. A mistake traders make is think to themselves, yesterday I made $100, today I can afford to lose $50 and I'm still up. No, because if you lack the discipline to sit out and wait for an A STAR set up, you'll lack the discipline to stop losing when you get to $50.

The levels don't lie: We have to learn the behaviour of the market makers, the price action and the structure of the chart. I need you guys to remember this, "the market will always give you an opportunity, either to get in, or to get out". Levels don't lie, price needs to create structure and fill voids, it needs to test price points almost to see if it likes it or not

Gradually moving but frustrating unless you're holding from above. Price moved into the order region and bounced giving the flip again, now resistance stands at the 2320-25 region while support 2310 is still holding up price. Yesterday we said don't discount the swoop into that higher resistance level so please play caution. Trading ranging is about highs and lows, trying to trade mid-range is a recipe for disaster.

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That's where we stand. Support now becomes 2310 and resistance 2320

Nothing important on the Calendar today from what we can see, so we should have some clean movement

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