[June 16] 30-second gold non-discretionary scalping trade result
Details of 30-second GOLD discretionary-free scalping here
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This is the trade from June 16.
21:30
U.S. Federal Reserve Bank of New York Manufacturing Index for June
is due to be released.
The range of movement and importance are not very large, but let's be cautious nonetheless.
This trade takes that into account.
Last week GOLD updated its high and turned into an uptrend, and it continued to rise in the Tokyo market as well.
However, momentum faded and it gradually slowed down and fell.
In the London market it also fell toward the week's low, and the question was whether it would form a pullback or stay range-bound before entering the NY market.
After a false breakout once, another entry opportunity approached, and when it broke below, it plunged dramatically.
The timing happened to align with the previous support being broken, but I wasn't particularly wary, and it dropped nearly 100 pips all at once, so the surprise outweighed the joy.
If it had moved in the opposite direction, it would have reminded me again of GOLD's scary volatility.
Because the market moved so rapidly, the waveform became distorted, and subsequently it rose slowly to fill the gap.
There were a few false breakouts here as well, but after such unusual price action, volatility remained high, and the stop-loss width widened more than usual; since we had already captured so much in the early phase, many of you probably chose to skip entries in the latter part based on your own judgment, right?
This one was completely a fluke, so don’t get carried away—stay calm and enter mechanically without discretion.
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