KnightsofGold

KnightsofGold

If you've been following you'll know that we've been short on Gold for the last couple of months. We're still holding positions from above. This chart is for reference only, we posted a similar chart a week or so ago saying we were waiting for the break. Not saying its going straight down, our target of 1750 is getting closer. As always, trade safe.

KnightsofGold

We're monitoring this 1785 level. Breaking here should put more pressure on the price to decline. Support here and we could go back up to test the 1800-1808 level. We're not in any positions at the moment. We've insisted on remaining short in this market, yesterday was another reason why we're not longing yet. Our overall target of 1750 is getting closer.

KnightsofGold Updated 

Is it a continuation? With symmetrical triangles on some occasions they give a fake breakout in one direction then tend to go the other way. In this scenario, we're looking to short the market so we're looking for this to break to the upside and give a fake signal. We're keeping an eye on this.

KnightsofGold

4H, waiting for the close of the candle for a potential double top. Just an idea at the moment but looking for this as its move. Support: 1817 1808 1800 Resistance: 1826-28 1833-35 4H candle close below 1815 and we're on for lower in our opinion.

KnightsofGold Updated 

Monthly: Please also refer to our previous monthly chart from last week. So far we’re being supported at the 2011 and 2012 resistance levels. We’ve broken out of our pattern similar to the one we saw during the last big move up in Gold during 2009/11. Looking at the chart closely we can see that last weeks candle closed below a key closing price of 1834/5...

KnightsofGold

1H: Again, just like the 4H chart suggest, it looks like we’re going up over the course of Monday based on successful support below. There will be a lot of buyers in the market with stop around 1810 levels, so a spike down and then maybe a move up over the day. Only reference and observation, not trading signals. As always, trade safe.

KnightsofGold

4H: Now we’re starting to get a clearer picture. There’s a zone above that looks like it hold liquidity. It wouldn’t surprice us if we get a move up towards this level to get some buyers in before a move lower. We’re still playing short on this. We have an entry that is in profit and safe which we’re thinking we’ll close on open based on a small move...

KnightsofGold

Daily: Following the technical levels. There is a clean chart pattern here and a candle reversal. This chart is suggesting we’re going to go further down as long as the 1828-35 level continues to act as resistance. Resistance: 1828 1835 1850 Support: 1815 1808 1794 We are day traders so these levels are for reference only. As always, trade safe.

KnightsofGold

Weekly: Again the 1780-85 level seems to stick out. Clear, clean trend and technical levels are being respected. On this chart we have closed below a key level so if we are going down over the next few weeks it needs to be a sharp quick move up and back down. We’re looking for resistance at 1835 to test the shorts again. We could get a bit of a squeeze on...

KnightsofGold

We got a lovely entry on this trade. We've banked 50% of the profits and set the stop to just below the entry level. Either way the trade will close in overall profit. Looking forward to Monday to see what Gold has in store for us. Wishing everyone a great weekend. As always, trade safe. Knights of Gold.

KnightsofGold Updated 

Lets see if we can finish the pattern off. Looking for this to resist around the 1826-30 level and then sell again during the US session. As we've been saying, I don't think their done with pushing gold down. Our overall target of 1750 still stands. As always, trade safe.

KnightsofGold

Sitting neutral at the moment, waiting for one of the levels to break. Simple chart today, pretty self explanatory. No positions in Gold at the moment, we're still bears in this market expecting decline at some point. Something tells me there's a spike up towards 1865-85 on the cards. That's the level we're waiting for to test the short. As always, trade safe.

KnightsofGold Updated 

This is what we're looking for today. Gold has opened up higher levels by breaching a key resistance. We want to see support around 1830-25 before taking this long trade. We will be targeting 1855 as our first destination and potentially 1865 after that. This all depends upon successful support below. Breaching 1830 and holding below it will invalidate...

KnightsofGold

Daily: We could be morphing into some kind of triangle formation on the daily timeframe. On the chart you can see what is possibly a key resistance level for this triangle to hold. Again, just like before the breakout can be strong. We’re not really concentrating on the upside levels at the moment, not until a breakout upwards. A breakout downwards can open...

KnightsofGold

Monthly Chart says it all I think. We're sharing this one to give you an idea of the bigger picture. Resistance: 1958-70 1874-94 1825-35 Support: 1793-1800 1750-1735 Trendlines go back many years. For reference only. As always, please trade safe.

KnightsofGold

Gold – 4H accumulation breakout This is what we’re looking at on the 4H timeframe. Now if the Dollar does what we think its going to then Gold should follow suit. Pullback towards 1805-02 and a move higher towards 1820 then 1830. This level is key for Gold, bulls can regain control above 1820 and push the price higher. There is a level of 1865 which we...

KnightsofGold

DXY – 4H We still have our target of around 92.00. It seemed like DXY was going to go for it last week but it created a double top on the 4H timeframe just before NFP on Friday. At the moment its left a double top around 91.60 and a right shoulder that needs to be tested around 89.40. Where it goes first will depend on 91.18 level, it could create a H&S...

KnightsofGold Updated 

Looks like this could be a good level to test a Long entry, the stop is quite big for my liking but theres a level below that we think it might spike down to. The stop is below that level so its shouldn't hit. Not holding this long term, just the levels on the chart. Small lot size today. As always, trade safe.