FOMC – 22/03/23
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’ve had a good run on Gold taking it up and then coming down into the order region with it. For this FOMC as we have been doing recently, we will remain with the extreme levels only, otherwise we will stay away until tomorrow or Friday before hunting the trades in Camelot.
The initial level of resistance sticking out to us is the 1960-70 region, it’s a larger region as we’re accounting for the spike! IF, at this region we see a reaction in price and it falls in line with our strategy, we feel an opportunity to short the market back down could arise. The levels below we will be looking for are initially the 1920-25 price points and below that 1910-15. Please note, price breaking above the 1960-65 region will lead the price to potentially target the recent highs again which if we don’t get a long entry into, we’ll wait for.
Alternatively, if the price resumes the decline, the levels below for a potential reaction in price are first the 1910-15 region and below that the 1880-85 price points. The problem we have if the price comes down to these levels is the gap that was left on price last week, so expect the spike lower!
For new traders, this isn’t really an event you should be trading. Best practice is to wait for the release, let them take the price to where they want to and then look for a confirmed support/resistance level before you think about taking a trade. The trade always comes after the event, we’re sharing these levels as guidelines for your charts.
Please do support us by hitting the like button, leaving a comment, and giving us a follow. We’ve been doing this for a long time now providing traders with in-depth free analysis on Gold, so your likes and comments are very much appreciated.
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’ve had a good run on Gold taking it up and then coming down into the order region with it. For this FOMC as we have been doing recently, we will remain with the extreme levels only, otherwise we will stay away until tomorrow or Friday before hunting the trades in Camelot.
The initial level of resistance sticking out to us is the 1960-70 region, it’s a larger region as we’re accounting for the spike! IF, at this region we see a reaction in price and it falls in line with our strategy, we feel an opportunity to short the market back down could arise. The levels below we will be looking for are initially the 1920-25 price points and below that 1910-15. Please note, price breaking above the 1960-65 region will lead the price to potentially target the recent highs again which if we don’t get a long entry into, we’ll wait for.
Alternatively, if the price resumes the decline, the levels below for a potential reaction in price are first the 1910-15 region and below that the 1880-85 price points. The problem we have if the price comes down to these levels is the gap that was left on price last week, so expect the spike lower!
For new traders, this isn’t really an event you should be trading. Best practice is to wait for the release, let them take the price to where they want to and then look for a confirmed support/resistance level before you think about taking a trade. The trade always comes after the event, we’re sharing these levels as guidelines for your charts.
Please do support us by hitting the like button, leaving a comment, and giving us a follow. We’ve been doing this for a long time now providing traders with in-depth free analysis on Gold, so your likes and comments are very much appreciated.
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.
