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

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Please read if you haven't already and don't forget to hit the boost button

ENDING SOON

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DOW - Happy with that as well

There was a typo on the original post. 👍

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That's the level we wanted initially for the trade during the Asia session. We'll remain with support 5150 but resistance here is strong and there is a lot of confluence. We need volume to break above, otherwise a reaction from above can again swing us low below the 5100 level. Many traders are struggling with Gold at the moment due to the high volatility and get rich quick mentality. Trading Gold entails smaller and manageable lot sizes that allow you to move with the market and you HAVE TO STICK TO YOU SL. Once that SL is in place, don't move it, it's there to protect you. The market will always give you opportunities, take a small loss if you have to, that's the market telling you you were wrong, you'll end up getting better entries from better levels. The other thing...For some reason, ego's on traders are writing cheques their butts can't cash. "KOG, I only trade Gold because I'm used to the way it moves". If you were used to the way it moves, why are you burning through your balance!? There are 3500 different instruments on TV, they all have a chart, they all have the same structure and price action and the tools work on all them. While 20% of all retail are trading Gold, the professionals and funds are making money on everything else that is moving nicely. Think about!