Dear Traders,
Today there will be a sharp fluctuation in gold prices, awaiting US inflation data, and we may see gold at levels below 1940 and also above 2000. Therefore, trading must be done with caution and high-level of money management, and as we are used to in many cases, the price response at the beginning does not reflect the reality of the expected situation at the time of news, sometimes the opposite of what is expected, and then the real response begins at the time of the US session, which causes confusion and losses for many traders.
I advise beginners to stay away from trading at least an hour before and after issuance inflation news.
Based on the price now, I will trade as follow:
Buy @1966-1968 and TP 1970, 1973, 1979, 1984, 1989, 1993
Sell @1955-1953 and TP 1950, 1947, 1942, 1939, 1932, 1922, 1914
Depending where the prices is before the inflation data release, I may post another idea.
Wish good luck for all
Today there will be a sharp fluctuation in gold prices, awaiting US inflation data, and we may see gold at levels below 1940 and also above 2000. Therefore, trading must be done with caution and high-level of money management, and as we are used to in many cases, the price response at the beginning does not reflect the reality of the expected situation at the time of news, sometimes the opposite of what is expected, and then the real response begins at the time of the US session, which causes confusion and losses for many traders.
I advise beginners to stay away from trading at least an hour before and after issuance inflation news.
Based on the price now, I will trade as follow:
Buy @1966-1968 and TP 1970, 1973, 1979, 1984, 1989, 1993
Sell @1955-1953 and TP 1950, 1947, 1942, 1939, 1932, 1922, 1914
Depending where the prices is before the inflation data release, I may post another idea.
Wish good luck for all
