XAUUSD (Gold) Trading Plans And Setups Dec-Jan
The direction of Gold in the last couple of months has had various sentiment influences/drivers.
Most recently, risk on/risk off coming mostly from the latest USD strength post election + Consistent data and geopolitical tensions have given a lot of weight to each movement.
It's vital to track all Sentiment drivers and assess the risk that it imposes at any time. This is because behind all moves is sentiment, ultimately forming trends.
Now - Sideways movement and an open door for intraday/scalp traders. Typically better done in lighter sizes to cater for the chance of a rip up or down. This is caused by a slowdown in Market Sentiment currently.
Price Rally? May come from any USD weakness via FED updates and/or rhetoric. Similarly, any tensions globally war wise may pull you to the first 'Real' short zone (where you may find better opportunities for swing entries.
Price Fall? May come from gold weakness as a result of an improved economic outlook and a stronger USD similarly, which given we know where the FED sits may come hand in hand.
Awaiting further moves for further entries.
Most recently, risk on/risk off coming mostly from the latest USD strength post election + Consistent data and geopolitical tensions have given a lot of weight to each movement.
It's vital to track all Sentiment drivers and assess the risk that it imposes at any time. This is because behind all moves is sentiment, ultimately forming trends.
Now - Sideways movement and an open door for intraday/scalp traders. Typically better done in lighter sizes to cater for the chance of a rip up or down. This is caused by a slowdown in Market Sentiment currently.
Price Rally? May come from any USD weakness via FED updates and/or rhetoric. Similarly, any tensions globally war wise may pull you to the first 'Real' short zone (where you may find better opportunities for swing entries.
Price Fall? May come from gold weakness as a result of an improved economic outlook and a stronger USD similarly, which given we know where the FED sits may come hand in hand.
Awaiting further moves for further entries.
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Posts Not financial advice.
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