Gold update FOMC Meeting 02.11.22 RECAP
Yesterday on FOMC meeting I had bearish bias. IR were announced (0,75bps) and price spiked up to clear all liquidity above.
I did not expected this big push, but eventually was profitable day.
I took 3 setups before FOMC meeting - the first one hit my SL.
Setup 1
After big push price formed 1min high confluence setup and I entered. Gold started to consolidate further and my expectations were that it will make false break-out to the upside, before drop.
This was the case - gold hit my SL, making false break-out.
Setup 2
Since price took me out I waited for new rejection and entered again.
This was the true move and setup hit take profit area.
Setup 3
Second setup was completed and price started to pull back from the reaction area.
I opened small buy setup, because there was a chance for deep pullback, but few minutes after I closed this setup, because the bearish manipulation was too strong.
Small pullback was created and I opened the next and last sell setup, which also reach the profit area.
Summery
Overall gold formed very strong manipulation to the down side and negated previous bullish high confluence bullish setup on daily Time Frame.
I am expecting new bearish swing.
All FOMC trades were lived shared .
I did not expected this big push, but eventually was profitable day.
I took 3 setups before FOMC meeting - the first one hit my SL.
Setup 1
After big push price formed 1min high confluence setup and I entered. Gold started to consolidate further and my expectations were that it will make false break-out to the upside, before drop.
This was the case - gold hit my SL, making false break-out.
Setup 2
Since price took me out I waited for new rejection and entered again.
This was the true move and setup hit take profit area.
Setup 3
Second setup was completed and price started to pull back from the reaction area.
I opened small buy setup, because there was a chance for deep pullback, but few minutes after I closed this setup, because the bearish manipulation was too strong.
Small pullback was created and I opened the next and last sell setup, which also reach the profit area.
Summery
Overall gold formed very strong manipulation to the down side and negated previous bullish high confluence bullish setup on daily Time Frame.
I am expecting new bearish swing.
All FOMC trades were lived shared .
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