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.
Daily Key Levels
Trade the daily levels within the context of the weekly levels
Key GBPUSD and Gold Levels – Thursday – 24th June 2022
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.
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
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 – 23rd June 2022
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.
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
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 – 22nd June 2022
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
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
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
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.
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.