1/21-1/26: Gold's Bearish trend to end the week

26 Jan

XAUUSD After studying Gold for the first time live, 2 major points of news occurred Wednesday and Thursday. First was the major drop due to the PMI. With a drop from 2033 to 2012 in less than a day. The snipe was taken, and profit goals were hit allowing me to log off early and continue to watch from the sidelines. On Thursday I left out of trading due to news which fluctuated wildly to both sides possibly knocking some traders straight into SL or TP in a flash shooting to 2008 and 2023 dramatically. I avoided joining any trades after witnessing that. Today (Friday 8:30), I witnessed inflation news which caused the market to yet again take another plunge bearish. Using this allowed me to take another snipe into a sell in which I will trade until 5pm ending the weekend in a wild but profitable week. Using my strongest indicators (QQE, MACD and X-Trend) and learning WHEN to trade Gold has allowed me to remain stable and avoid being bounced around. I've noticed slightly after news is the best time for me once a trend has been formed. Will kick things off again Sunday evening to continue to monitor this crazy market. Have a safe and great weekend!