FOMC:
This is our view for FOMC today, please do your own research and analysis to make an informed decision on the markets. It is not recommended you try to trade the event if you have less than 6 months trading experience and have a trusted risk strategy in place. The markets are extremely volatile and can cause aggressive swings in price.
We can see that there is still a lot of bullish pressure on Gold with bulls trying to keep this above the 1850 level. We have targets on Gold around the 1880-85 level so there is a chance they will want to push the price up to that level at some point in order to potentially get better pricing to sell it again. On the flip side we still have our liquidity region of 1830-35 where there is a pot waiting for the price to visit. This gives us the range for FOMC today and potential movement for tomorrow.
Looking at the markets we’re experiencing some very choppy and volatile price action with most pairs proving difficult for retail traders to trade. For that reason we would strongly suggest not trading this FOMC, especially with the strong fundamentals in the background. Rather, wait for them to move the market to where they want and you’ll get a better entry, whether that be a long or short.
So with this in mind we will trade this as usual with 2 scenarios in mind:
Scenario 1:
They push the price up, we won’t be using immediate resistance levels, instead we will wait for the key level above around the 1880-85 price point. Based on strong resistance at this level we feel there could be an opportunity to short the market back down with the first target being 1865, second 1855 and below that 1840.
Scenario 2:
They push the price down, again, we won’t be looking for immediate support levels, not even the 1830-35 liquidity region, instead we will wait around the 1820 region where we feel an opportunity to long the market into the resistance levels 1835, 1845 and above that 1850.
We’re expecting some big swings in price so the movement can be extreme, a push up can result in a 3-400pip movement in the opposite direction and vice versa.
As always, trade safe.
KOG
This is our view for FOMC today, please do your own research and analysis to make an informed decision on the markets. It is not recommended you try to trade the event if you have less than 6 months trading experience and have a trusted risk strategy in place. The markets are extremely volatile and can cause aggressive swings in price.
We can see that there is still a lot of bullish pressure on Gold with bulls trying to keep this above the 1850 level. We have targets on Gold around the 1880-85 level so there is a chance they will want to push the price up to that level at some point in order to potentially get better pricing to sell it again. On the flip side we still have our liquidity region of 1830-35 where there is a pot waiting for the price to visit. This gives us the range for FOMC today and potential movement for tomorrow.
Looking at the markets we’re experiencing some very choppy and volatile price action with most pairs proving difficult for retail traders to trade. For that reason we would strongly suggest not trading this FOMC, especially with the strong fundamentals in the background. Rather, wait for them to move the market to where they want and you’ll get a better entry, whether that be a long or short.
So with this in mind we will trade this as usual with 2 scenarios in mind:
Scenario 1:
They push the price up, we won’t be using immediate resistance levels, instead we will wait for the key level above around the 1880-85 price point. Based on strong resistance at this level we feel there could be an opportunity to short the market back down with the first target being 1865, second 1855 and below that 1840.
Scenario 2:
They push the price down, again, we won’t be looking for immediate support levels, not even the 1830-35 liquidity region, instead we will wait around the 1820 region where we feel an opportunity to long the market into the resistance levels 1835, 1845 and above that 1850.
We’re expecting some big swings in price so the movement can be extreme, a push up can result in a 3-400pip movement in the opposite direction and vice versa.
As always, trade safe.
KOG
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🟡 Disclaimer: Not financial advice. For educational purposes only.
🔴 TWITTER: twitter.com/knightsofgold2
🟢 INSTAGRAM: www.instagram.com/knights_of_gold/
🟡 Disclaimer: Not financial advice. For educational purposes only.
