It’s been a minute.

Another Covid induced lockdown in Uganda has finally domesticated me.

With more time in my hands, why not revisit what I abandoned a year ago – sharing my weekly and daily trading ideas.

Every week, I will post on the blog the critical levels of the instruments I am trading (Gold and GBPUSD at the moment) along with market analysis and commentary of the fundamentals driving the markets.

I’ve funded a small live trading account where I use these key levels myself.

Here is proof that you can profit from trading within these levels. Any strategy. No BS.

I trade with XM for this account.

If you want to switch brokers, use this link to sign up to XM. New traders get a free $30 no deposit bonus plus access 20% bonus on each deposit up to $5,000

Daily Key Levels

Trade the daily levels within the context of the weekly levels

Key GBPUSD and Gold Levels – Thursday – 24^th June 2024

Gold nicely went to our daily R3 level before selling off to the day’s lows. What’s certain is sellers are struggling to move Gold lower.

Where ever the wind blows, here are the key price levels I am looking at.

GOLD

Daily Pivot:  1782.34

Resistance Levels:  R1 1790.64 R2 1795.78 R3 1799.43 R4 1804.08

Support Levels:  S1 1774.04, S2 1768.90, S3 1765.25, S4 1760.60, S5 1752.30

GBPUSD

Daily Pivot:  1.396600

Resistance Levels:  R1 1.39895 R2 1.40078 R3 1.40208 R4 1.40374

Support Levels:  S1 1.39304 S2 1.39121 S3 1.38991 S4 1.38826

Key GBPUSD and Gold Levels – Tuesday – 23^rd June 2024

Will the PMIs today give Gold a clear direction away from the range it’s been stuck in for the last four trading days? Early in the day, we have the French, German, and UK PMIs, then later, we have the US PMIs.

On the short-term daily pivots, price should target any of these levels.

GOLD

Daily Pivot:  1780.21

Resistance Levels:  R1 1787.01 R2 1791.22 R3 1794.21 R4 1798.02

Support Levels:  S1 1773.41 S2 1769.20 S3 1766.21 S4 1762.40

GBPUSD

Daily Pivot:  1.39211

Resistance Levels:  R1 1.39605 R2 1.39848 R3 1.40022 R4 1.40243

Support Levels:  S1 1.38816 S2 1.38573 S3 1.38400 S4 1.38179

Key GBPUSD and Gold Levels – Tuesday – 22^nd June 2024

GOLD

Daily Pivot:  1777.90

Resistance Levels:  R1 1786.25, R2 1791.41, R3 1795.08, R4 1799.76, R4 1808.11

Support Levels:  S1 1769.55 S2 1764.39, S3 1760.72, S4 1756.04, S5 1747.69

GBPUSD

Daily Pivot: 1.38834

Resistance Levels:  R1 1.39409, R2 1.39764, R3 1.40017, R4 1.40339, R5 1.40914

Support Levels:  S1 1.38259 S2 1.37904, S3 1.37651, S4 1.37329, S5 1.36754

This week’s key levels

GOLD

Weekly Pivot: 1800.71

Resistance Levels:  R1 1845.40 R2 1873.02, R3 1892.67, R4 1917.71

Support Levels:  S1 1756.02, S2 1728.40, R3 1708.75, R4 1683.71

GBPUSD

Weekly Pivot:  1.39063

Resistance Levels:  R1 1.40365, R2 1.41169, R3 1.41742, R4 1.42471

Support Levels:  S1 1.37761, S2 1.36957, S3 1.36385, S4 1.35655

Free Trading Signals

I have created a telegram channel for those interested in signals, where I will share my trading entries.

Join me on Telegram

Note. I take trades off a higher timeframe and execute on a lower time frame so, you shouldn’t expect lots of trades in a day.

For those following, I trade with leverage of 1:25

My risk per trade is between 1% – 3%.

My daily targets are between 3% – 5%

Once I hit my daily targets, I often stop monitoring the markets.